Maple Leaf Foods has announced that its subsidiary Greenleaf Foods, a leader in plant protein products, has acquired a food processing plant in Indianapolis, USA, in order to increase production capacity for tempeh.
According to Maple Leaf Foods, growing demand for Greenleaf Foods’ Lightlife tempeh products was the driving force behind the acquisition of the 118,000 sq ft plant, which will have an initial capacity of approximately 4,500 tonnes.
The new facility is expected to start operating in the first half of 2022 and when fully operational will employ 115 people.
Michael McCain, Maple Leaf Foods president and CEO, said: “At this juncture, given the high demand for our tempeh products, this Project offers us the ability to deliver incremental capacity in a cost-effective, timely manner in a location that has synergies with our long-term vision”.
The company estimates a cost of $100 million for the deal, including the acquisition cost, which is expected to close in early April.
Source: Maple Leaf Foods