Maple Leaf Foods closes Field Roast acquisition
Jan. 30, 2018
by MEAT+POULTRY Staff
The transaction is valued at $120 million.
MISSISSAUGA, Ontario – Maple Leaf Foods completed the acquisition of Field Roast Grain Meat Co., a manufacturer of grain-based proteins and vegan cheese products. Maple Leaf financed the transaction with a combination of cash on hand and drawing from an existing credit facility.
“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,” Maple Leaf said. “With the acquisition of Field Roast, along with Lightlife Foods acquired in early 2017, Maple Leaf is now positioned as a leader in the US retail market for plant-based proteins.”
Field Roast reported sales of approximately $38 million. The company’s grain-based products are marketed across North America and include fresh and frozen grain-based roasts and loaves, sausages and frankfurters, burgers, deli slices and appetizers, as well as Chao brand vegan cheese slices and entrees.