Maple Leaf Foods Inc. is combining its Field Roast Grain Meat Co. and Lightlife Foods, Inc. brands to launch a new plant-based food company called Greenleaf Foods, SPC.
Maple Leaf Foods acquired Field Roast Grain Meat Co. for $120 million in December 2017. Field Roast produces premium grain-based meat products, including fresh and frozen roasts and loaves, sausages and frankfurters, burgers, deli slices and appetizers under the Field Roast brand, and vegan cheese slices and entrees under the Chao brand.
Maple Leaf acquired Lightlife Foods for $140 million in March 2017. Lightlife manufactures more than 30 products, including plant-based tempeh, hot dogs, breakfast foods and burgers, at its facility in Turner Falls, Mass.
The company will be guided by a “deep commitment to social purpose, sustainability and the progress of the plant-based foods sector,” Maple Leaf said.
Based in Chicago, Greenleaf Foods will be led by industry veteran Dan Curtin, who has been with Maple Leaf Foods for more than 10 years. He was most recently president of Field Roast Grain Meat Co. and LightLife Foods for Maple Leaf. His career also includes roles at McCain Foods, Boca Burger and Grupo Bimbo.
“We have established leading brands that are known for delicious, high-quality products and we are excited to build on and invest in that expertise to drive innovation and accelerate our growth,” Mr. Curtin said. “Leadership in the fast-growing plant-based protein market is fundamental to pursuing Maple Leaf Foods’ broader vision to be the most sustainable protein company on earth.”
By Rebekah Schouten
Source: Food Business News
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.