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About Weston Foods Us, Inc.

George Weston Limited fuels Canadians through those long winters. More than 90% of the company's sales come from its majority-owned Loblaw Companies Limited, Canada's largest retailer with more than 2,400 grocery stores, markets, and drug stores across the country. Its locations (both corporate-owned and franchised) operate under such banners as Loblaws, Joe Fresh, Shoppers Drug Mart, and President's Choice Bank. Loblaw Companies also provides banking and other financial services through PC Financial. In addition, George Weston owns Weston Foods, with operations in Canada and the US, which makes freshly baked goods, frozen dough, biscuits, and other bakery products. (Its Interbake Foods division is a major supplier of Girl Scout cookies in the US.)

Operations

George Weston operates through three operating segments: Loblaw, Choice Properties and Weston Foods.

The Loblaw operating segment accounts for more than 90% of company revenue and includes grocery and drug store chains, as well as financial services through PC Financial. Its banners include Loblaws, Joe Fresh, President's Choice Bank and Shoppers Drug Mart.

Weston Foods is a leading food manufacturer in North America, known for fresh and frozen bakery items (breads, rolls, pies, cakes, cookies, crackers). Some of Weston foods brands include Wonder, Ace Bakery, Country Harvest, and D' Italiano. This segment accounts for around 5% of George Weston's revenue.

Choice properties, which accounts for about 5% of George Weston's revenue, is a large diversified owner, manager, and developer of real estate properties. It is comprised of retail properties, predominantly leased to necessity-based tenants, industrial, office and residential assets concentrated in attractive markets and offers an impressive and substantial development pipeline.

Geographic Reach

Based in Toronto, George Weston operates across Canada and generates more than 95% of its revenue there. It has limited operations in the US through Weston Foods.

Sales and Marketing

George Weston serves retail customers through some 2,400 grocery stores, markets, and drug stores across Canada. Its Weston Foods segment serves retail and wholesale customers. 

Financial Performance

For a five-year period starting in 2015, the company registered steady growth. The revenue grew 7% in that span. In that same period, net income grew on its first 3 years but declined the last two years.

In 2019, the company reported revenue of $50.1 billion, up by 3% compared to 2018. The growth was powered completely by increase in retail sales in all its operating segments.

Net income that year was $242 million, down by 58% from $574 million in 2018.

Cash at the end of fiscal 2019 was $1.8 billion, an increase of $313 million from the prior year. Cash from operations contributed $4.6 billion to the coffers, while investing activities used $1.1 billion, primarily due to acquisition of CREIT. Financing activities used another $2.8 billion for higher net repayments of long term debt and short term debt, partially offset by proceeds received from Choice Properties' portfolio transaction, issuances of Choice Properties units and lower repurchases of Loblaw's common shares.

Strategy

George Weston's three operating segments has its own strategy.

Loblaw's strategy is committed to delivering industry leading financial performance by leveraging data-driven insights and by delivering process and efficiency excellence. This model ultimately fuels truly customer-centric investments in Everyday Digital Retail, Payments and Rewards, and Connected Healthcare.

For Choice Properties, its goal is to provide net asset value appreciation, stable net operating income ("NOI") growth and capital preservation with a long term focus.

Weston Foods is committed to offering superior products and services to its consumers and customers in an increasingly competitive environment.

Company Background

A baker's apprentice, George Weston began delivering bread in Toronto with a single horse in 1882. He added the Model Bakery in 1896 and began making cookies and biscuits in 1908.

Upon George's death in 1924, his son Garfield gained control of the company and took it public as George Weston Limited in 1928.

During the 1940s the company made a number of acquisitions, including papermaker E.B. Eddy (1943; sold 1998 to papermaker Domtar, giving it a 20% stake in Domtar), Southern Biscuit (1944), Western Grocers (1944, its first distribution company), and William Neilson (1948, chocolate and dairy products).

In 1953 it acquired a controlling interest in Loblaw Groceterias, Canada's largest grocery chain. George Weston continued its acquisitions during the 1950s and 1960s, adding grocer National Tea and diversifying into packaging (Somerville Industries, 1957) and fisheries (British Columbia Packers, 1962; Conners Bros., 1967).

Weston Foods Us, Inc.

50 Maplehurst Dr
Brownsburg, IN 46112-9085
Phone: 1 (317) 858-9000

Firm Stats

Employer Type: Privately Owned
Executive Vice President opera: Joseph Latouf
Key Account Manager: Delane Smith
QA Quality Control Manager: Devin Tumey
Employees (This Location): 621
Employees (All Locations): 1,033

Major Office Locations

Brownsburg, IN