March 12, 2018

Bäckerhaus Veit, a female-owned artisan bread company, was recognized for overall business performance and sustained growth with the prestigious Canada’s Best Managed Companies designation. The 2018 Best Managed program award winners are amongst the best-in-class of Canadian owned and managed companies with revenues over $15 million demonstrating strategy, capability and commitment to achieve sustainable growth.

Now in its 25th year, Canada’s Best Managed Companies is one of the country’s leading business awards programs recognizing Canadian-owned and managed companies for innovative, world-class business practices. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the calibre of their management abilities and practices.  

Anticipating the growth in demand for healthy artisan bread in the increasingly health conscious and aware North American market, Founder and CEO Sabine Veit started Bäckerhaus Veit in Toronto, Ontario in 1987. In 2015, the company relocated from their 50,000 square foot facility in Woodbridge, Ontario to a new 150,000 square foot facility in Mississauga, Ontario, which was completely renovated to become a purpose-built, state-of-the-art facility integrating tried and true old-world traditions and recipes with high volume production. Today, the company is a premium private label artisan bread manufacturer with an emphasis on creating the high quality customized products that our customers have come to expect.

Recognizing the need to manage sustained, structured growth, from an “entrepreneur’s dream” to a successful, commercially viable operation, Bäckerhaus Veit has a clearly defined strategic plan to achieve the company’s long term goals, without sacrificing the core values of passion & caring, respect for old world traditions, commitment to quality, pride and innovation that define Bäckerhaus Veit. 

 The Company works hard to retain its familial culture as Sabine has a strong belief that the success of any Company is built on having a flat organizational structure and open communication between all employees.  It’s not unusual to see Sabine on the production floor, interacting openly with all employees, listening to their experiences and sharing her experiences with them. 

“It’s much more than just financial performance,” said Lorrie King, Partner, Deloitte and Co-Leader, Canada’s Best Managed Companies program. “The ingredients to success also include overall business performance and sustained growth. It takes dedication and commitment from the entire organization.”

Applicants are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. 2018 Best Managed companies share commonalities that include a clear strategy and vision, investment in capability and commitment to talent. 

“We firmly believe that authentic artisan bread is about time and temperature and that there are no short cuts to creating great bread,” said Sabine Veit, founder and CEO, Bäckerhaus Veit. “Similarly, there are no short cuts to being named one of Canada’s Best Managed Companies. Our empowered cohesive team works diligently to build on the strong foundation established and achieve continued sustained growth, while remaining independent and true to the core values with which the company was formed.”

“CIBC is pleased to congratulate Bäckerhaus Veit on being named one of Canada’s Best Managed Companies, recognizing its excellence in leadership, business performance and innovation,” said Dino Medves, Senior Vice President and Head, CIBC Commercial Banking. “As a sponsor of the Canada’s Best Managed Companies program for over 20 years, CIBC is proud to celebrate private companies like Bäckerhaus Veit as leaders in their industry. 

2018 winners of the Canada’s Best Managed Companies award will be honoured at the annual Canada’s Best Managed Companies gala in Toronto on April 11, 2018. On the same date, the Best Managed symposium will address leading-edge business issues that are key to the success of today’s business leaders.

The Best Managed program is sponsored by Deloitte, CIBC, Canadian Business, Smith School of Business, TMX Group and MacKay CEO Forums.