Maple Leaf sold its animal nutrition business

by Editor
Wednesday, July 25, 2007

Nutreco completed acquisition of the Canadian Animal Nutrition business from Maple Leaf Foods.

The animal feed, aquaculture, and poultry company Nutreco Holding N.V. based in Amersfoort, The Netherlands, has completed the acquisition of Canada's leading animal nutrition business from Maple Leaf Foods Inc.

Part of the completion of the agreement announced already in May 2007 is the sale of the small Canadian fish feed activity, which has been sold to Cooke Aquaculture Inc.

The acquired business represents sales of approximately $628 million and 2006 earnings before interest and taxes of approximately $45,5 million.

It employs more than 1,200 people and operates a research and development facility and 18 feed manufacturing facilities across Canada and in New York State.

Maple Leaf Foods is reorganizing its protein value chain operations, which include its animal nutrition, hog production, and fresh and further processed meats operations, to focus on growth in its branded, value-added protein and bakery businesses. The Company is on track to complete this process by the end of 2009.

Maple Leaf Foods Inc. is a leading food processing company, headquartered in Toronto, Canada. The Company employs approximately 22,500 people at its operations across Canada and in the United States, the United Kingdom and Asia, and had sales of $5.9 billion in 2006.