Weston history

The most troubled distribution operation was National Tea, which lost $36 million on $1.06 billion in sales in 1973.

Meantime, Galen Weston took over as chairman in 1974, four years before the death of Garfield Weston.

In 1976, therefore, National Tea sold off 75 percent of its supermarkets, including all of its Chicago operations; the company continued to operate the remaining stores, making limited attempts to improve their operations, with the idea of eventually divesting them.

1978: Garfield Weston dies and is succeeded as chairman by Galen Weston; Loblaws launches the No Name private label.

In 1979 Weston and his family bought out the company’s shareholders, returning it to private ownership status.

1980: Stroehmann Brothers, a major Pennsylvania-based bread baker, is acquired.

In 1981 the company became one of the nation’s first Superfund contractors.

In 1983 Galen Weston was the subject of a foiled kidnap attempt by the Irish Republican Army; following this incident, he and his family began maintaining very private lifestyles.

A major expansion of the company's original potato processing plant in American Falls, Idaho, was completed in 1986 and the following year a potato processing plant in Boardman, Oregon, was acquired to supply the company's growing export business and its markets in the United States.

1987: The confectionery operations of Cadbury Schweppes Canada Inc. are acquired.

ConAgra was involved in everything from seed distribution to the production of frozen food dinners, and in 1988 it added another plume to its portfolio by acquiring the entrenched frozen potato business operated by Lamb Weston.

In late 1989, Thomas Swoyer, Roy Weston’s son-in-law and the company’s chief operating officer, died at the age of 42.

By 1990, Weston had more than 2,500 employees, 49 offices in 25 states and the District of Columbia, and revenues of around $224 million.

The acquisition spree started in 1991, when Lamb Weston purchased its first European potato processing plant, a facility in Eemshaven, Holland.

In 1993 E.B. Eddy bought Island Paper Mills Co.

In 1994, Lamb Weston acquired another potato processing plant in Holland, purchasing a facility in Kruiningen as a part of a joint venture with one of Europe's major potato traders, Meijer Frozen Foods.

In 1995 Loblaw finally rid itself of its National Tea albatross, selling the company to St Louis-based Schnuck Markets Inc. for US$368 million.

In March 1996, the 85-year-old Weston removed his son-in-law from the chairman’s seat and took over the position himself.

In September 1997 Weston announced that it planned to spin off the paper company through an initial public offering, but two months later shelved that plan because of turmoil in the stock market.

George Weston strengthened its positioned in the baked goods industry in 2001 through the $1.77 billion purchase of Bestfoods Baking Co. from the Unilever Group.

Steinhart, David, “Weston Sells United States Unit to Mexico’s Groupo Bimbo,” National Post, January 23, 2002.

Sales and profits at Loblaw began to falter, and in 2006 the company posted its first loss in 19 years.

In 2017, as part of a long-term succession plan, Galen G. Weston was appointed CEO of George Weston Limited.

In 2018, as part of George Weston’s transformation initiative and on-going mission to drive shareholder value, the company completed a reorganization where Loblaw spun out its majority interest in Choice Properties to George Weston.

"George Weston Limited ." International Directory of Company Histories. . Retrieved April 15, 2021 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/george-weston-limited-0