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 the production capacity of tempeh.
According to Maple Leaf press release, the growing demand of Greenleaf Foods’ Lightlife tempeh products was the driving force behind the acquisition of the 118,000 sq. ft. plant, where the firm plans to install its tempeh production equipment with an initial capacity of approximately 4.5 million kgs.
The new facility is expected to start operating in the first half of 2022 and when fully operational it will employ 115 people. Should the demand for tempeh products continue to rise, it’s possible for the company to double the production capacity.
Michael McCain, president and CEO of the firm 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 this project, including the acquisition cost, which is expected to close in early April and is subject to typical closing conditions.
Source: Maple Leaf Press Release