METRO sells Première Moisson bakery plant to FGF brands in US$65.7M deal
The agreement keeps Première Moisson products on METRO shelves while FGF takes over commercial bakery production.
CANADA – METRO Inc. has entered into a strategic agreement with Canadian bakery company FGF Brands to sell the commercial bakery manufacturing operations of Première Moisson Group for C$90 million (US$65.7 million).
The agreement will see FGF acquire Première Moisson’s production facility in Baie D’Urfé as METRO continues to focus on its food and pharmaceutical retail and distribution business. The companies expect to complete the deal during METRO’s fourth quarter of fiscal 2026, which ends on September 26, 2026.
Once the deal closes, FGF will manufacture and distribute Première Moisson products sold through METRO’s food stores. Customers across Québec and Ontario will continue to find Première Moisson products in stores, while FGF will support production with its manufacturing capabilities.
Première Moisson Group will remain a METRO subsidiary. The company will keep ownership of the Première Moisson brand, its 25 retail bakeries across Québec, its in store artisanal bakery operations, and its French pastry production facility in Vaudreuil Dorion, which supplies its bakery network.
The agreement also provides for the continued production of all Première Moisson products. Employees affected by the transaction will transfer to FGF when the deal closes. METRO and FGF will also work with the union that represents unionized employees during the transition.
“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. By partnering with a company recognized for its manufacturing expertise, we will continue to offer customers the Première Moisson products they enjoy while benefiting from enhanced innovation, product development capabilities and a more efficient operating structure,” said Marc Giroux, Chief Operating Officer at METRO.
FGF said the agreement supports the growth of Première Moisson’s grocery business while maintaining product quality.
“We are pleased to bring our baking expertise to METRO and in particular to Première Moisson, a brand renowned for the quality of its products and craftsmanship. This partnership allows us to leverage our manufacturing and innovation capabilities to support the growth of Première Moisson’s grocery offering while continuing to provide consumers with high quality products,” said Ojus Ajmera and Tejus Ajmera, Co Chief Executive Officers and Co Founders of FGF.
METRO reported annual sales of more than C$22 billion and employs more than 97,000 people across Québec and Ontario. FGF Brands, a family owned company founded in 2004, ranks among Canada’s largest industrial bakery businesses and supplies bakery and snack products to retailers and foodservice customers in several international markets.
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