Sector News

Maple Leaf Foods to buy meatless foods producer Lightlife Foods

February 23, 2017
Food & Drink

Maple Leaf Foods has announced it will acquire an American company that makes plant-based protein foods for US$140 million and any related costs.

Maple Leaf says it has signed a definitive agreement to buy Lightlife Foods Inc., which makes vegetarian deli meats, chicken, beef, sausages and other meatless foods.

The end of meat ? Economics, the environment and changing tastes have top protein feeling the heat

President and CEO Michael McCain said in a statement that consumers are looking for alternative protein sources and this growing market is one of Maple Leaf’s strategic growth platforms.

Lightlife’s management will continue to run the Turners Falls, Mass.-headquartered company, which will operate as a subsidiary of Maple Leaf.

The deal is subject to a U.S. regulatory review and is expected to close in March.

Source: The Canadian Press via Financial Post

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