Supermarket chain Metro Inc. (MRU.TO) and family-owned bakery company FGF Brands on Thursday announced a strategic partnership under which FGF will acquire the commercial bakery production facility of Première Moisson Group, a Metro subsidiary, for C$90 million.
"This transaction is consistent with our focus on our core food and pharmaceutical retail and distribution activities, while preserving the strength of the Première Moisson brand, ." said Marc Giroux, Chief Operating Officer, Metro.
The deal includes Première Moisson's manufacturing facility in Baie-D'Urfé. Once the transaction closes, FGF will take over the production and distribution of Première Moisson products sold through grocery stores.
Metro said the partnership will enable it to continue offering Première Moisson products across its Québec and Ontario food store network while benefiting from FGF's manufacturing expertise, innovation capabilities and scale.
Première Moisson Group will remain part of Metro and will continue to own the Première Moisson brand, its network of 25 retail bakeries in Québec, its artisanal in-store production operations, and its French pastry production facility in Vaudreuil-Dorion.
Metro said all affected employees will transfer to FGF when the transaction closes, which is expected during the company's fourth quarter of fiscal 2026, ending September 26, 2026.
Metro shares are currently up 0.02% at C$93.32 on the Toronto Stock Exchange.
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