Maple Leaf Foods recently announced the closing of its acquisition of Field Roast Grain Meat Co., a leading manufacturer and brand of premium grain-based 'meat' and vegan cheese products, for USD$120 million plus related costs.
Field Roast has established a leadership position and considerable brand equity in the rapidly growing premium segment of plant-based protein. This acquisition advances Maple Leaf's vision to be the most sustainable protein company on earth, including a core strategy to diversify into plant-based protein. With the acquisition of Field Roast, along with Lightlife Foods acquired in early 2017, Maple Leaf is now positioned as a leader in the U.S. retail market for plant-based proteins.
The transaction was financed from a combination of cash on hand and drawings under the existing credit facility. Based on current operating results, the acquisition is expected to be accretive to Maple Leaf's earnings in 2018.
Maple Leaf Foods closes acquisition of Field Roast Grain Meat Co.
Probiotics in RWA productionAs ‘Raised Without Antibiotics’ (RWA) chicken production grows – and…
Trillium opens HatchCare hatchery in OntarioOn November 13, Trillium Hatchery opened a cutting-edge facility in…
$1.75B in mystery money could let Ottawa to start compensating farmers soonThe federal government says it plans to spend $1.75 billion…
Maple Leaf Foods to build new London plant, shutter 3 others in OntarioMaple Leaf Foods Inc. is building a $660-million fresh-poultry facility…
PIC Producer UpdateWed Dec 12, 2018