George Weston Limited history, profile and corporate video
George Weston Limited is a Canadian food processing and distribution company headquartered in Toronto, Ontario, Canada. It was founded in 1882 when a young Toronto bread salesman and former baker’s apprentice named George Weston went into business for himself by buying a bread route from his employer.
By the turn of the century, George Weston had become Canada’s biggest baker.
In 1924, George’s eldest son, Garfield Weston, followed in his father’s footsteps and became president of George Weston Limited. Garfield transformed his father’s Toronto bakery into a global commercial food company with holdings on several continents.
In 1953, the company acquired a majority control of Loblaw, Inc., which was later incorporated in 1956.
In the early 1970s, a third-generation took charge as W. Galen Weston successfully consolidated the large conglomerate, transforming Loblaw into one of Canada’s largest grocery chains.
In 2006, Galen G. Weston assumed responsibility for Loblaw, and guided Loblaw through a period of transformation and growth, including the creation and initial public offering of Choice Properties Real Estate Investment Trust (known as Choice Properties) in 2013 and the acquisition of Shoppers Drug Mart shortly thereafter.
In 2017, Galen G. Weston was appointed CEO of George Weston Limited.
In 2018, the company completed a reorganization where Loblaw spun out its majority interest in Choice Properties to George Weston. As a result of this spin-out, George Weston became the majority owner of Choice Properties.
The company operates through the following three business segments: Loblaw Companies Limited, Choice Properties Real Estate Investment Trust, and Weston Foods.
Loblaw Companies Limited
Loblaw is one of Canada’s largest food and drug retailers and a provider of financial services.
Choice Properties Real Estate Investment Trust
Choice Properties is one of Canada’s largest REITs (Real Estate Investment Trusts). It engages in the ownership, operation, and development of commercial and residential properties.
Weston Foods
Weston Foods is one of the largest North American bakery companies.
With more than 220 000 employees, George Weston Ltd. is considered one of the top 2000 largest public companies in the world, according to Forbes.
*Information from Forbes.com, Wikipedia.org, and www.weston.ca/en.
**Video published on YouTube by “Elevate SIX“.