CANADA, Mississauga. Maple Leaf Foods yesterday announced the closing of its acquisition of two poultry plants and associated supply from Cericola Farms, a privately held company.
Maple Leaf Foods has transitioned most of its flagship Maple Leaf Prime chicken brand to Prime RWA, where the Canadian market is growing at approximately 25% annually. Chicken is the most consumed and fastest growing meat protein segment in North America.
The transaction was financed from a combination of cash-on-hand and drawings under the existing credit facility. The acquisition is expected to be accretive to Maple Leaf's earnings in 2018.
Maple Leaf Foods Inc. employs approximately 11,500 people and does business in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).