Company News
April 20, 2017, Toronto, Ontario - Subway has filed a defamation lawsuit against the CBC over reports the sandwich chain alleges have caused it to suffer significant sales losses.

In a statement of claim filed with a Toronto court earlier this month, Subway takes issue with television and online reports as well as tweets published by the broadcaster, which it alleges were meant to discredit the company and its products.

Subway alleges the CBC acted ''recklessly and maliciously'' in airing a ''Marketplace'' report in February that said DNA tests suggested some chicken products served by the chain could contain only 50 per cent chicken or less.

The company further alleges the tests conducted on the chicken ''lacked scientific rigour,'' were conducted without appropriate methods by people without proper training and then interpreted by people who also lacked training.

''These false statements ... were published and republished, maliciously and without just cause or excuse, to a global audience, which has resulted in pecuniary loss to the plaintiffs,'' the company says in the document.

Subway is seeking $210 million in damages, saying its reputation and brand have taken a hit as a result of the CBC reports. It is also seeking recovery of out-of-pocket expenses it says were incurred as part of efforts to mitigate its losses.

None of the allegations have been proven in court and the CBC says it will defend itself against the lawsuit, which also names as defendants the reporter and two producers who worked on the program.

CBC ''Marketplace'' reported that DNA test results showed high levels of soy DNA in Subway's chicken products, suggesting potentially high levels of soy content in Subway's chicken products.

The TV report was followed by an online story and several tweets that included similar content.

Subway reacted angrily after the report aired, calling it false and misleading. The company said at the time its own analysis found only trace amounts of soy in its chicken.

The CBC has said it stands by its reports, noting the DNA tests were done by independent and credible experts.

The lawsuit alleges the reports unfairly painted Subway as resorting to misleading business practices and cheap ingredients at the expense of Canadian consumers.
April 19, 2017, Toronto, Ont. – Burnbrae Farms’ Egg Creations Whole Eggs was recently named as a finalist in the 2016 Canadian Grand Prix New Product awards by the Retail Council of Canada (RCC). 

The RCC revelled 100 finalists competing for the coveted award earlier this week. These grocery products are the most impressive of all the new grocery products introduced in 2016.   

Becoming a Canadian Grand Prix finalist can be a game changing experience for new products. Finalists receive direct and extensive exposure to key retailers, their buyers as well as consumers eager to try the celebrated new items getting all the attention and accolades.  

To ensure products were evaluated exclusively on quality and innovation, new to this year's assessment was that all products introduced in 2016 had an equal chance of becoming finalists, regardless of when in the year they were introduced and the size of their distribution.  

To become a finalist, a product needed to score at least 70% in judging.
Finalists and winners can use the Canadian Grand Prix logo on their packaging for two years. RCC also supports the awards with extensive consumer and trade support in Canadian Retailer. 

Egg Creations Whole Eggs from Burnbrae Farms Ltd., was named a finalist in the food category. To view a complete list of finalists, visit: http://www.rccgrandprix.ca/content/2016-finalists

The winners of the 24th annual Canadian Grand Prix Awards will be announced at the Gala on May 31, 2017 following the second day of Retail Council of Canada's Store Conference, Canada Biggest Retail Conference. 

RCC's Grocery Division represents Canada's largest grocery retailers, encompassing over 90% of all grocery sales. It is a source of information, advice and expertise on all matters affecting food retail, including food safety and recall, labelling, nutrition, health and wellness, product packaging, supply chain issues and environmental stewardship. READ MORE
April 13, 2017, Ottawa, Ont. Egg Farmers of Canada (EFC) is honoured to be named one of the National Capital Region's Top Employers for the fifth consecutive year.

The National Capital Region's Top Employers is an annual competition evaluating employers based on criteria like training and skills development, community involvement, performance management, and benefits.

EFC currently has 60 employees who work to represent more than 1,000 Canadian egg farmers and farm families.

EFC has built a reputation as a leading agriculture organization and as an employer that maintains a progressive and forward-thinking culture. Honours like the National Capital Region's Top Employer, being named by Waterstone Human Capital as one of Canada's Most Admired Corporate Cultures, and the Crystal Egg Award further echo EFC's commitment to its employees. READ MORE
April 11, 2017, Louisville, KY - Kentucky Fried Chicken (KFC) U.S., the country's largest chicken quick service resturant, has announced its plans to extend its food promise to customers, announcing that, by the end of 2018, all chicken purchased by KFC U.S. will be raised without antibiotics important to human medicine.

This move marks the first time a major national quick service restaurant chain in the U.S. has extended an antibiotics commitment beyond boneless chicken to its chicken-on-the-bone menu items. 

In addition to its antibiotics pledge, the brand has also made commitments that by the end of 2018, all core products will be free of artificial colors and flavors. Today, all KFC chicken is free of food dyes, and 100 per cent of the menu will be free of food dyes by the end of 2017, excluding beverages and third-party products. READ MORE
March 24, 2017, Kitchener, Ont – Hybrid Turkeys recently announced plans for ongoing and future investments in the U.S. turkey industry.

In order to deliver quality products throughout the supply chain, Hybrid will invest in two new hatcheries, new egg production farms together with new contract partners, state-of-the-art transportation, and the skilled workforce needed to support these areas of operations.

“Our business is focused on creating value for customers and built on strong partnerships in the industry,” said Dave Libertini, managing director of Hybrid Turkeys. “As the demands of the modern consumer evolve, the stresses on a collaborative supply chain for the turkey industry have never been greater. A more transparent food system, with ever reducing use of antibiotics, means that the responsible production of high quality day old turkey poults is critical.”

The decision for Hendrix Genetics, parent of Hybrid Turkeys, does not come lightly. This move represents a significant investment of financial capital and human resources in a market long overdue for this type of upgrade.

“We are committed to delivering the quality poults that Hybrid customers are looking for,” said Peter Gruhl, general manager of Hybrid USA. “We explored many options and have decided that making an investment in new, state-of-the-art facilities is the only way we can satisfy our client’s demands.”

The move comes after an announcement in January 2015 in which Hybrid and Ag Forte entered into a commercial egg and poult supply agreement. In November 2016, Hybrid served notice that it would not seek to renew this arrangement beginning in January 2019. Hybrid will continue to supply breeding and commercial stock to the U.S. market and, with access to a global supply chain, expects no interruption in supply for their clients.
March 22, 2017, Toronto, Ont – Two of Canada's largest quick-service restaurant chains – Burger King and Tim Hortons – have pledged to improve their poultry welfare standards.

Burger King and Tim Hortons (whose parent company is Restaurant Brands International) collaborated with Mercy For Animals on the new policies.

Burger King and Tim Hortons have all pledged to use only chicken that meets the welfare standards laid out by Global Animal Partnership (GAP), an international farmed animal welfare certification program. These standards will require chicken suppliers to breed only higher-welfare strains of chickens, reduce the stocking density of the birds, improve light levels and litter quality inside barns, and use controlled atmosphere stunning to render the birds unconscious before slaughter, dramatically improving slaughter methods and the birds' living conditions.

RBI will also transition to cage-free eggs for Burger King and Tim Hortons locations in the U.S., Canada, Mexico, and Latin America by 2025.

“We have been so pleased to work with Burger King and Tim Hortons to develop their progressive broiler welfare policies,” said Krista Hiddema, vice president of Mercy For Animals in Canada. “It is certainly a testament to the times that two of Canada's largest quick-service brands are committed to meeting GAP standards, and we are confident the rest of the Canadian food industry will soon follow.”
March 20, 2017, Vaughan, Ont – Cara recently announced it continues to work with suppliers to evolve animal welfare beyond current standards, including the adoption of controlled atmosphere stunning.

Cara has committed to have its suppliers begin the conversion to this humane method by 2020, with a vast majority of its suppliers completed by 2022 with the rest to follow thereafter.

An example of Cara's ongoing commitment to humane treatment of animals occurred in February 2016 when the company announced that a number of its restaurant brands were switching to cage free eggs and all of its restaurant brands would do so by 2020.

Cara is excited to announce this initiative that goes beyond the current standard and will continue to work with various associations and regulatory bodies to continue to evolve animal welfare in Canada.
March 14, 2017, Siloam Springs, AR – Cobb-Vantress, Inc. recently announced the launch of a new website dedicated to animal welfare.

The website can be accessed at cobbcares.com or by visiting cobb-vantress.com under the About Cobb tab.

“We’re taking a proactive approach,” said Joel Sappenfield, company president. “Sites like this are important because they allow us to be transparent with our direct customers, consumers and the poultry industry.”

Animal welfare has been a focus at Cobb for a long time and has become an increasingly important topic for consumers. Cobb recognizes there is a need to openly discuss animal welfare and poultry care. The company’s goal is to provide a tool that can be used for education and to provide an in-depth look at the company’s programs.

Cobb has a longstanding commitment to animal welfare, and we wanted a place where we could easily share information about our efforts, such as our training programs, research and development, disease prevention, and care and handling procedures,” said Dr. Kate Barger, veterinarian and Cobb director of world animal welfare.

The new, interactive animal welfare website is divided into three sections: Education and Awareness, Healthy Birds and Cobb Cares. Each section features information, photos and videos on Cobb’s practices to advance animal welfare in each of these three areas.

Visitors to the website can also get a detailed look at Cobb’s commitment and innovative approach to research and development, disease prevention, safe handling at farms and hatcheries, transportation and biosecurity programs.

“Our commitment to animal welfare is not only the right thing to do, it is an important moral and ethical obligation we owe to our global customers and, most importantly, to the chickens we breed, raise and distribute worldwide,” said Sappenfield.
March 13, 2017, Vancouver, BC – A&W Food Services of Canada Inc. recently committed to the adoption of even higher animal welfare standards for farm-raised broiler chickens.

"We want to continuously raise the bar in animal welfare to ensure animals are treated with respect,” said Susan Senecal, president and chief operating officer at A&W Canada. “Today, we have elevated our standards to include some new ones. It all adds up to a better life."

Under A&W’s new requirements, producers must:
  • Introduce physical enhancements that best allow for natural bird behaviour, while preserving an antibiotic-free environment.
  • Ensure a minimum of six hours of darkness in the barn so chickens can rest better at night.
  • Ensure barn density levels meet or exceed the standard set out in the Global Animal Partnership Step Level 2.
A&W works with farmers to ensure chickens are humanely raised in large barns with ample access to fresh air, food and water. Lighting, air quality and cleanliness are monitored and clean litter is provided for every flock.

A flock health care plan and qualified veterinary care is currently required at each of A&W's supplier farms to maintain flock health, which is actively monitored.

A&W uses breeds of birds that can thrive in the barns with optimal health. These birds are raised to a weight best for maintaining mobility and leg and foot health. The company understands that the University of Guelph is undertaking a study to determine whether there may be breeds of chickens better suited for Canadian farms. A&W looks forward to the results of this study.

All of A&W's farmers work to ensure that the birds have ample room to roam, with the majority of barns operating at a density well below the industry requirement, providing lots of space to range.

A&W currently has stringent standards for the humane handling of birds for euthanasia and has already begun working with its suppliers to adopt controlled atmosphere stunning. This process reduces the individual handling of the birds. The company has committed to a complete conversion to this enhanced method as quickly as possible and no later than the end of 2022.

All A&W suppliers are currently required to have annual third party audits by qualified professional animal auditors to ensure compliance to A&W's standards.
March 10, 2017, Toronto, Ont – Jefo was recently received designation as one of Canada’s best managed companies, the second year in a row.

"I am very proud that Jefo is being requalified as one of Canada’s Best Managed Companies,” said Jean Fontaine, president and founder of Jefo, adding that 2017 marks the company’s 35th anniversary. “Since our modest beginnings, we have been able to carve out an enviable place in a competitive environment. Our originality has attracted the attention of many customers.”

The 2017 Best Managed program recognizes the best-in-class of Canadian-owned and managed companies with revenues over $15 million demonstrating strategy, capability and commitment to achieve sustainable growth.

“Best managed companies deserve recognition for their entrepreneurial approach to excelling in an uncertain economic climate,” said Peter Brown, a partner at Deloitte and co-leader of Canada’s Best Managed Companies program. “They truly bring out the best in Canadian business leadership.”

Established in 1993, 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. Winners are an important engine of economic growth for being adaptable and sustainable in a global market. Applicants are evaluated by an independent judging panel made up of judges from Deloitte, CIBC, Canadian Business, the Smith School of Business, and MacKay CEO Forums. Best managed companies share commonalities that include an emphasis on culture and people, innovation, sustained performance and strong financial results.

This year’s winners will be honoured at the annual Canada’s Best Managed Companies gala in Toronto on April 19, 2017.
Dec. 9, 2016 - Algae nutritional products from Alltech are now registered with the Canadian Food Inspection Agency (CFIA) for use in the diets of pigs, dairy cows and laying hens. The DHA found within algae can naturally enrich pork, milk and eggs. Canadian dairy, swine and layer producers will be able to market their DHA-enriched products as value-added functional foods, meeting consumer demand for nutrient-rich foods and beverages.
 
“Consumers are becoming increasingly nutrition-focused, seeking out foods that provide specific health benefits when shopping at the supermarket,” says Nikki Putnam, a registered dietitian nutritionist at Alltech. “They’re demanding more nutrition out of each bite while asking farmers and the food industry to keep their food fresh and flavorful. Alltech’s ForPlus and All-G Rich dried micro-algae fermentation products give producers the opportunity to increase the nutrient content of pork, milk and eggs without changing the flavour and quality consumers expect.”
 
Algae are gaining attention for their application to the feed and food industries as a highly sustainable source of DHA. Docosahexaenoic acid, or DHA, is an omega-3 fatty acid naturally found in some species of algae and in fatty fish used for fish oil. Research has demonstrated DHA’s importance as an essential nutrient for health at all stages of both human and animal life. In humans, DHA is essential for brain and eye development. Plentiful levels of dietary DHA are also linked to improved cognitive function and learning ability in children, including benefits for children with ADHD, as well as reduced risk of coronary heart disease, depression and Alzheimer’s disease.
 
As such, Alltech is continuing to expand its algae DHA plant, one of only two plants commercially producing high-DHA heterotrophic microalgae. The facility, which is capable of producing approximately 15,000 tons of algae per year, has already been updated since its opening in early 2011.
 
“Alltech’s newly received approval from the CFIA on ForPlus and All-G Rich is an incredible step forward in sustainable animal agriculture,” says Stuart McGregor, Alltech Canada general manager. “This will provide the Canadian market with a renewable and competitive advantage to enrich pork, milk and eggs with DHA while also offering a sustainable alternative to current DHA omega-3 fatty acid sources that are depleting global fish stocks.”
 
Alltech algae products ForPlus and All-G Rich will be available through Canadian feed suppliers. For more information, contact your local Alltech Canada representative at http://go.alltech.com/the-dha-opportunity
September 16, 2016 - Fortune Magazine interviews McDonald's CEO Steve Easterbrook on the company's reasoning behind the decision to utilize only cage-free eggs in North America in the next 10 years. READ MORE 
Sasso and Hendrix Genetics have signed a Memorandum of Understanding (MOU) to strategically connect the colored breeding activities of Sasso with the worldwide network and R&D center of Hendrix Genetics.

To accommodate the transaction Sasso will strengthen is equity structure via emission of new shares to Hendrix Genetics. It is anticipated that the final transaction will be completed in the autumn of this year, after regulatory approvals and other customary closing conditions.

With access to the latest breeding technology and specialized breeding IT of Hendrix Genetics, Sasso’s breeding program will be intensified to accelerate overall product development. Hendrix Genetics will support Sasso with its international asset base to establish a back-up for the core breeding program and all international GPS activities. This will ensure continuity of international Parent Stock sales, necessary to respond to any disease challenge and to set up efficient worldwide distribution. The strategic alliance will provide Sasso with a stronger financial base for its asset renewal program and international expansion plans. Sasso will continue to be managed independently to maintain its focus and dedication to breeding for the colored broiler sector, both in France and globally.

Yves de la Fourchardière, President of Sasso, comments: “Management and shareholders of Sasso understand the ongoing consolidation process within the animal breeding sector, driven by exponentially increasing R&D cost and demand for global supply security. We are pleased that Hendrix Genetics offers Sasso the opportunity to maintain our focus on breeding traditional poultry, our company culture and French ownership and at the same time link with a strong international breeding company.” Antoon van den Berg, Chief Executive Officer of Hendrix Genetics, added: “We have been looking for this partnership for several years. With this alliance Sasso can maintain and further develop itself as a sustainable co-leader in alternative broiler breeding which is particularly beneficial to the broiler sector at large.”
September 6, 2016 - Cara Operations Limited recently announced that it has successfully completed the St-Hubert acquisition.  The company announced on March 31, 2016, that it entered into a definitive agreement to acquire 100 per cent of Group St-Hubert, Quebec's leading full-service restaurant operator as well as a fully-integrated food manufacturer for $537 million.

Jean-Pierre Léger, the outgoing Chairman and CEO of St-Hubert commented, "I'm proud of the St-Hubert legacy and confident that this new alliance with Cara will open up opportunities for St-Hubert associates as well as new possibilities, both inside and outside of Quebec, for the St-Hubert business". 

Cara's Chief Executive Officer, Bill Gregson, commented, "This acquisition represents a historic alliance and an excellent strategic fit for both companies. It gives St-Hubert the opportunity to expand its restaurant network as well as to drive a national retail food program on behalf of Cara, leveraging St-Hubert's existing management, Quebec manufacturing facilities and supplier network". 

Cara has acquired St-Hubert for a purchase price of $537 million on a cash-free, debt-free basis.  The purchase price is subject to customary working capital adjustments. St-Hubert generates approximately $620 million in System Sales, including sales from its food operations division, and approximately $44.8 million in Operating EBITDA. The St-Hubert transaction is immediately accretive to Cara's Adjusted Net Earnings per Share, before synergies are considered. Cara and St-Hubert will leverage their combined businesses to achieve an estimated $10 million of annual run-rate synergies within 3 years.  Cara has financed the St-Hubert acquisition through the issuance of $50 million in Cara subordinate voting shares ("Shares") to the vendor, approximately $230 million in proceeds from Cara's previously announced offering of subscription receipts (the "Subscription Receipts"), on a private placement basis, and through upsizing its credit facility with Scotiabank and a syndicate of lenders.  At closing, Cara's Pro Forma Net Debt to Operating EBITDA ratio is expected to be approximately 1.9x, providing Cara with room on the balance sheet to fund further growth, including acquisitions.

In accordance with the terms of the agreement pursuant to which the Subscription Receipts were issued, each outstanding Subscription Receipt will be exchanged today for one Share, resulting in the issuance of 7,863,280 Shares and a cash payment equal to $0.20 per Subscription Receipt. The cash payment is equal to the aggregate amount of dividends per Share for which record dates occurred since the issuance of the Subscription Receipts, less withholding taxes, if any. The Shares issued in exchange for the Subscription Receipts will be listed for trading on the Toronto Stock Exchange.

Non-IFRS Measures

This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Cara's results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of Cara's financial information reported under IFRS. Cara uses non-IFRS measures including "System Sales", "Operating EBITDA", "Adjusted Net Earnings per Share" and "Pro Forma Operating EBITDA" to provide investors with supplemental measures of its operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Cara also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Cara's management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets, and to determine components of management compensation.

"System Sales" represents top line sales received from restaurant guests at both corporate and franchise restaurants including take-out and delivery customer orders. System Sales includes sales from both established restaurants as well as new restaurants.  Pro forma System Sales for the acquisition of St-Hubert include third party sales from the food division which consist of sales to franchise restaurants, grocery, industrial and food service clients net of commercial expenses.  Management believes System Sales provides meaningful information to investors regarding the size of Cara's restaurant network, the total market share of Cara's brands and the overall financial performance of its brands and restaurant owner base, which ultimately impacts Cara's consolidated financial performance.

"Operating EBITDA" is defined as net earnings (loss) from continuing operations before: (i) net interest expense and other financing charges; (ii) gain (loss) on derivative; (iii) write-off of financing fees; (iv)  income taxes; (v) depreciation of property, plant and equipment; (vi) amortization of other assets; (vii) impairment of assets, net of reversals; (viii) losses on early buyout / cancellation of equipment rental contracts; (ix) restructuring; * conversion fees; (xi) net (gain) / loss on disposal of property, plant and equipment; (xii) stock based compensation; (xiii) change in onerous contract provision; and (xiv) lease costs and tenant inducement amortization.

"Adjusted Net Earnings per Share" is defined as net earnings per share attributable to shareholders of Cara adjusted for the following: (i) gain (loss) on derivative; (ii) write-off of financing fees; (iii) impairment of assets, net of reversals; (iv) losses on early buyout / cancellation of equipment rental contracts; (v) restructuring; (vi) conversion fees; (vii) net (gain) / loss on disposal of property, plant and equipment; (viii) change in onerous contract provision; (ix) normalized interest expense, which adjusts for proceeds from the IPO and certain capital changes related to the IPO; and, normalized income tax expense.

"Pro Forma Operating EBITDA" is defined as Operating EBITDA adjusted for full-year contribution of New York Fries and the acquisition of St-Hubert, as if the acquisitions had occurred on December 27, 2015.

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information in this press release includes statements regarding the timing and completion of the proposed Original Joe's acquisition, timing and value of expected synergies, the effective accretion, growth prospects, future business strategy and expectations regarding operations. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "estimates", "intends", "anticipates", "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "achieve".

Forward-looking information is necessarily based on a number of assumptions and estimates that, while considered reasonable by Cara as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including: the accuracy of management's assessment of the effects of the acquisition, including the ability to generate synergies consistent with management's expectations; and the ongoing performance of the businesses of Cara and St-Hubert. These assumptions and estimates are not intended to represent a complete list of the assumptions and estimates that could affect Cara.

There are several factors that could cause actual results to differ materially from those contained in forward-looking information, including: future operating results; future general economic and market conditions, including equity capital markets; changes in laws and regulations; and such other factors and risks as described in detail from time to time in documents filed by Cara with securities regulatory authorities in Canada. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Cara does not undertake to update any forward-looking information contained herein, except as required by applicable securities laws.

 

September 2, 2017 - The 2017 International Production & Processing Expo (IPPE) has surpassed 510,000 square feet of exhibit space with five months remaining until the trade show, setting a new record. Comprised of the three integrated trade shows – International Poultry Expo, International Feed Expo and International Meat Expo – IPPE has secured more than 1,100 exhibitors.

“We are very pleased with the level of exhibitor participation and the expanded square footage of the trade show floor. We anticipate more than 30,000 attendees at the 2017 IPPE, with the Expo providing an excellent location to learn about new products and services for the protein and feed industries,” stated IPPE show organizers.

The world’s largest annual feed, meat and poultry industry trade show will be held Tuesday through Thursday, Jan. 31 – Feb. 2, 2017, at the Georgia World Congress Center in Atlanta, Ga. The Expo will highlight the latest technology, equipment and services used in the production and processing of feed, meat and poultry products. IPPE will also feature dynamic education programs addressing current industry issues, combining the expertise from AFIA, NAMI and USPOULTRY.

2017 IPPE SHOW HOURS:

Tuesday, Jan. 31: 10 a.m. – 5 p.m.

Wednesday, Feb. 1: 9 a.m. – 5 p.m.

Thursday, Feb. 2: 9 a.m. – 3 p.m.

For more information about the 2017 IPPE, visit www.ippexpo.org.

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