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George Weston Limited, often referred to as Weston or Weston's, is a Canadian holding company. Founded by George Weston in 1882, the company today consists of the Choice Properties real estate investment trust and Loblaw Companies Limited , Canada's largest supermarket retailer, in which it maintains a controlling interest .
In 1882, a young Toronto bread salesman and former baker’s apprentice named George Weston went into business for himself when he bought a bread route from his employer. By the turn of the century, Weston’s Bread was known throughout the city and George Weston had become Canada’s biggest baker. In 1924, George’s eldest son, Garfield ...
George Weston (March 23, 1865 – April 6, 1924) was an American-born Canadian businessman and the founder of George Weston Limited. He worked on a Canadian bread factory in Toronto. [1] Weston began his career at the age of 12 as a baker's apprentice and went on to become a bread route salesman. [2][3] He was also a Methodist as well as a ...
Key Dates: 1882: George Weston starts in business with two Toronto bread routes. 1896: Weston establishes a bread and cake bakery in Toronto, the Model Bakery. 1908: The bakery begins producing cookies. 1910: Weston merges his bread operations into the Canada Bread Company, while continuing to produce cake and cookies.
- Founding
- W. Garfield Weston
- Second World War
- Loblaw Companies Limited
- Consolidation and Turnaround
- Weston Foods Ltd.
- 2000 to Present
- Bread Price Fixing Scandal
- Key Terms: George Weston Limited
George Weston Limited’s beginnings go back as far as 1882, when George Weston, a Toronto bread salesman and former baker’s apprentice, went into business by purchasing a bread route from his boss. In 1884, he bought out his employer’s bakery. At least four expansions followed as the popularity of Weston’s Real Home-Made Bread grew. In time, Weston ...
W. Garfield Weston became president of George Weston Limited at age 26. He is credited with aggressively expanding and modernizing the company. In 1928, he brought Weston public and purchased William Paterson Limited, a biscuit manufacturer in Brantford, Ontario, and another outside of Boston. Backed by American financiers, he took the business in...
During the Second World War, George Weston Ltd. continued to expand, purchasing more bakeries and biscuit manufacturers. In 1944, it acquired Western Grocers, a wholesale food distributor in the Prairieprovinces that oversaw more than 675 Red and White grocery franchises. But with both Canada and Britain at war, the baking side of the business stru...
After the Second World War, the company embarked on a period of expansion and acquisition. In 1947, it acquired William Neilson Limited, a confectioner that produced chocolate and dairy products. About this time, Weston started buying shares in Loblaw Groceterias, one of the country’s biggest grocery chains. By 1953, Weston had gained controlling i...
The company’s rapid growth had slowed down by the 1970s, when George Weston Ltd. began to reorganize its operations and hired new management. In 1972, with too many small, failing stores and the rapid loss of market share in Ontario, Loblaws faced mounting debt and looming bankruptcy. In an attempt to turn the company around, Garfieldappointed his...
While Loblaw Companies was being overhauled, Galen Weston oversaw a similar consolidation in the food processing and resource sides of the business, opening the Weston Foods subsidiary in 1986. The company reorganized its diverse portfolio of assets while responding to changing economics, including a recession and free trade agreements of the late ...
In 2001, Weston acquired Bestfoods Baking Co. for nearly US$1.8 billion. In 2008, Weston announced the sale of many of its American baking companies, including Bestfoods, to Grupo Bimbo, a Mexican bakery conglomerate, for US$2.5 billion, the biggest deal in the history of George Weston Limited. Also in 2008, Weston sold Neilson Dairy to Saputo Inc....
On 19 December 2017, George Weston Ltd. and Loblaw Companies Ltd.revealed that both companies had participated in a bread price fixing scheme between 2001 and 2015. According to George Weston Ltd., the price fixing arrangement was organized industry-wide, with companies coordinating regular price increases together. Amounting to “consumer fraud” in...
Controlling interest- Ownership of enough of a company’s stock to give the shareholder control of the business. Holdings– The stocks, property or other financial assets of a company. Share - A unit of ownership in a company. A shareholderis an individual or business that owns shares. Subsidiary- A company that is owned by another company (usually c...
Weston’s Biscuit Factory, also known as the Peter St. plant, built by George Weston in 1910. From the company’s factory and head office on Peter Street in Toronto, Garfield Weston set out on a program of expansion. In 1928, he took George Weston Limited public and made his first acquisition with the purchase of William Paterson Limited, a ...
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Jun 21, 2023 · The Weston family’s journey from their humble beginnings to building an $8.7 billion empire is a testament to their entrepreneurial spirit, commitment to quality, and ability to adapt. Their diversified business ventures and philanthropic endeavors continue to shape Canada’s business landscape and contribute to the country’s social fabric.
