Canada: Maple Leaf Foods to acquire Field Roast Grain Meat

Maple Leaf Foods, a Canadian manufacturer of meat products, has announced the signing of a definitive agreement to acquire plant-based protein firm Field Roast Grain Meat for $120 million, plus related costs.

Field Roast Grain Meat is described by Maple Leaf Foods as a leading brand of premium grain-based ‘meat’ and vegan cheese products, with annual sales of approximately $38 million. Based in Seattle, USA, the firm manufactures lines of sausages, deli slices, burgers, roasts, appetizers and ready meals and employs approximately 200 people at its 75,000 sq ft leased manufacturing facilities in the city.

Commenting on the deal, Maple Leaf Foods president & CEO Michael McCain said: “The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins. It also aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact. Field Roast has built brand leadership through focusing on quality, craftsmanship and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation”.

Source: Maple Leaf Foods

 

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