MISSISSAUGA, ONTARIO — Maple Leaf Foods Inc. released its annual Integrated Report on June 4, which provides an update on the company’s 2024 fiscal performance and future outlook along with an overview of key initiatives.
Last year, Maple Leaf generated $4.9 billion in sales, driven by a workforce of approximately 13,500 team members across 23 manufacturing facilities.
“2024 was a year of meaningful financial and strategic progress for Maple Leaf Foods,” said Curtis Frank, president and chief executive officer of Maple Leaf Foods. “Fueled by the strength of our leading brands, the resilience of our growth strategies and the financial benefits flowing from our large-scale capital investments, we exited the year with strong momentum on our journey to transform Maple Leaf Foods into a purpose driven, protein-focused, brand-led, consumer packaged goods powerhouse.”
Perhaps the biggest company announcement made in 2024 was the decision to separate Maple Leaf’s pork business into its own independent public company, which will be known as Canada Packers. In the second half of 2025, Maple Leaf expects to complete this transaction.
Maple Leaf’s 2025 outlook includes mid-single-digit revenue growth as well as significant improvement year-over-year in adjusted EBITDA, which is expected to meet or exceed C$634 million.
This success will be driven by benefits reaped from the London Poultry and Bacon Centre of Excellence capital projects as well as the further processed poultry expansion at the Walker Road plant in Brampton, Ontario. Other success factors include adapting to the consumer environment, a return to normal levels of profitability in the Pork unit, and the company’s Fuel for Growth initiative, Maple Leaf said in its report.
Land stewardship
“We also refreshed our strategic blueprint and evolved the strategies that will guide us toward achieving our vision, to be the most sustainable protein company on Earth,” Frank said. “I am incredibly proud of the strides we’ve made and our many remarkable achievements, which are helping us create shared value for our stakeholders.”
By the end of 2024, Maple Leaf Foods achieved a 5.1% reduction in absolute Scope 1 and 2 emissions and a 15.6% reduction in Scope 3 emissions intensity since the 2018 base year. The company expanded its regenerative agriculture efforts, collaborating with Nutrien for the fourth consecutive year, scaling from 19,000 to over 250,000 acres, to support growers and boost sustainability.
Maple Leaf supported the Lake Winnipeg Basin Water Stewardship Project by dedicating 30,000 acres across four farms to implement water stewardship practices.
Additionally, the company achieved a 94.1% company-wide landfill diversion rate, with three facilities reaching 100% landfill diversion.
Animal welfare
Maple Leaf Foods adheres to a number of standards for best animal handling practices and consults with its Animal Care Advisory Council to regularly review its programs and strive for constant improvement. The council includes Temple Grandin, animal science professor at Colorado State University; Collette Kaster, CEO of the American Meat Science Association and executive director of the Professional Animal Auditor Certification Program; Karen Schwean-Lardner, professor at the University of Saskatchewan College of Agriculture & Bioresources; and Ken Opengart, principal owner of 3 Birds Consulting.
Maple Leaf Foods reported that 100% of its owned sow spaces feature open sow housing according to the NFACC Code of Practice and Canadian Pork Excellence PigCARE standards. Furthermore, the company has implemented environmental enrichment for pigs and broiler chickens and invested in humane processing technologies, converting 99.9% of its chicken plants to controlled atmosphere stunning.
Caring for people and communities
Maple Leaf Foods is committed to providing a work environment that supports the health, safety and mental wellbeing of its employees.
In 2024, the company completed 11 social compliance audits and took the next steps in advancing its enhanced social compliance program. Maple Leaf also maintained a Total Recordable Incident Rate (TRIR) of 0.37, which is a 94% improvement since 2012.
The company is also committed to advancing diversity and promoting equity within its organization. By the end of 2030, Maple Leaf aims to increase the representation of women in management to 50% outside manufacturing. At the end of 2024, that value was at 44%. Also by the end of 2030, the company looks to increase representation of Black, Indigenous and People of Color in management to 25%. It’s currently at approximately 22%.
Outside of the workplace, Maple Leaf seeks opportunities to pour back into surrounding communities.
Over the past eight years, the Maple Leaf Centre for Food Security has committed $13.3 million to 40 initiatives, addressing food insecurity across Canada. In 2024, Maple Leaf Foods donated $4 million in food products in Canada and the United States. Team members across the company have volunteered in more than 33 communities, supporting local food banks, healthcare institutions, community centers and newcomer services.
Delivering where it matters
Ultimately, Maple Leaf is focused on the food it delivers. As one of Canada’s largest food producers, Maple Leaf is a leader in the market with attention to providing high-quality, innovative products.
Its flagship brands Schneiders and Maple Leaf achieved the #1 and #2 lead in Packaged Meats in Canada, while Mina earned the top spot as the #1 Halal brand in fresh poultry in Canada, and Greenfield Natural Meat Co. the #1 brand in Sustainable Packaged Meats in Canada, according to the report.
In 2024, the company launched 50 new products across its brands, including Schneiders Breakfast Sandwiches and Schneiders Breakfast Bites. The new Schneiders breakfast products are part of Maple Leaf Foods’ broader innovation strategy as a consumer-packaged goods-driven business to create new, sustainably produced products that meet the evolving needs and preferences of consumers.
The full Integrated Report is available here.