Maple Leaf pork plant back on the sales block
June 4, 2010
by Bryan Salvage
TORONTO – Following renewed interest from potential buyers and improved economic conditions and credit markets, Maple Leaf Foods has announced a formal sale process for its pork processing business located in Burlington, Ontario.
"The sale of the Burlington business will complete the last phase of Maple Leaf's protein-transformation journey and supports our commitment to refocus our growth in the value-added meat, meals and bakery business," said Michael Vels, chief financial officer. "We are reinvigorating the sale process following renewed interest, including the potential of completing a sale to a producer group."
According to the company, its 365,000 sq.-ft. Burlington facility is one of the largest and most efficient pork processing facilities in Canada. Combined with its management and sales teams, it is a profitable business with a highly skilled workforce, the company added.
Maple Leaf Foods Inc. is a leading Canadian food processing company headquartered in Toronto, Canada. It employs approximately 23,500 people at its operations across Canada and in the U.S., Europe and Asia. The company achieved sales of $5.2 billion in 2009.