Canadian meat firm Maple Leaf Food has announced the sale of its poultry plant in Drummondville, Quebec to Giannone Poultry.
Founded in 1989, Giannone Poultry is a family business specialising in poultry slaughtering and cutting. The company’s products are distributed in Canada and the United States.
According to sources, Maple Leaf Food will continue to maintain its fresh chicken supply over the next three years. This acquisition will allow Giannone Poultry to increase its production volume by 40%.
Michael McCain, President and CEO of Maple Leaf Food said: “We are focused on prioritizing capital and optimizing our processing network. The sale of the Drummondville facility is an outcome of our continued network optimization”.
Bruno Giannone, vice-president and CEO of Giannone Poultry added: “The agreement is in line with our growth objective and will help slightly increasing our production volume. This transaction will also strengthen our marketing capacities to better meet our customers’ needs”.
The terms of the deal were not disclosed.
Sources: Maple Leaf Foods PR