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Metro Selling Premiere Moisson Production Facility For C$90 Million

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Metro (MRU.TO) is selling its Premiere Moisson production facility in Baie-D'Urf to FGF Brands for C$90 million, the company said on Thursday.

Bakery company FGF will manufacture and distribute Premere Moisson products sold in food stores.

Premiere Moisson Group will remain a Metro subsidiary and continue to own the Premiere Moisson brand, its 25 retail bakeries across Quebec, in-store production operations, and French pastry production facility in Vaudreuil-Dorion.

All impacted employees will be transferred to FGF, a statement said.

"This transaction is consistent with our focus on our core food and pharmaceutical retail and distribution activities, while preserving the strength of the Premiere Moisson brand," said Marc Giroux, chief operating officer.

Price: $93.34, Change: $+0.04, Percent Change: +0.04%

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