Food Business News - July 10, 2018 - 16
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of tremendous progress in our transformation, despite a challenging inflationary environment," Mr. Connolly said.
"The year was further proof that we are
squarely on track to deliver on the longterm commitments we presented at our
2016 investor day."
The Pinnacle Foods acquisition is
expected to be finalized by the end of
Maple Leaf Foods
to acquire Cericola
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MISSISSAUGA, ONT. - Maple Leaf Foods has
reached an agreement to acquire two
poultry plants and associated supply
from Cericola Farms. The two facilities are located in Bradford, Ont., and
Drummondville, Que., and process approximately 70.5 million lbs of chickens
In addition to the facilities, Maple
Leaf has agreed to acquire all of the processed chicken volume from Cericola's
primary processing plant in Schomberg,
Ont. Maple Leaf also said it holds an option to acquire the Schomberg plant and
supply in three years.
"Cericola is a leader in raised without antibiotics and organic chicken,"
said Michael McCain, president and
chief executive officer of Maple Leaf.
"This acquisition will build Maple Leaf's
market leadership in these value-added
categories and enable us to meet growing
Mary Cericola, founder of Cericola
Farms, added, "Our vision over the past
60 years has been to provide wholesome
and natural poultry products to our customers. It is this tradition of excellence
that aligns Maple Leaf and Cericola."
Maple Leaf said it has transitioned
most of its flagship Maple Leaf Prime
chicken brand to Prime RWA (raised
without antibiotics), where the Canadian market is growing at about 25%
July 10, 2018