MISSISSAUGA, ONTARIO – Maple Leaf Foods Inc. completed the acquisition of a poultry processing plant near Schomberg, Ontario, for C$40 million. The transaction was part of a 2018 purchase and sale agreement in which Maple Leaf agreed to acquire two poultry plants and associated poultry supply from Cericola Farms with the option of buying the Schomberg facility and supply after three years.
The two facilities Maple Leaf acquired in 2018 are in Bradford, Ontario, and Drummondville, Quebec, and process approximately 70.5 million lbs of chickens annually. The company said the acquisition of the Schomberg processing plant aligns with Maple Leaf Foods’ overall strategy to continue to build its meat protein business.
“Cericola is a leader in raised without antibiotics and organic chicken,” Michael McCain, president and chief executive officer of Maple Leaf, said in 2018. “This acquisition will build Maple Leaf’s market leadership in these value-added categories and enable us to meet growing consumer demand.”