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Maple Leaf Foods Closes Acquisition of VIAU Foods

Builds market leadership in premium Italian, cooked and dry cured meats

Maple Leaf Foods Inc. (TSX: MFI) announced today that it has closed the acquisition of VIAU Foods ("VIAU"), a Canadian market leader in premium Italian cooked, dry-cured and charcuterie meats, for a purchase price of $215 million, including $30 million in Maple Leaf stock. With sales of $180 million as of fiscal year ended March 31, 2018, the transaction is expected to be accretive to Maple Leaf's earnings per share in the first year and...

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Nov 15 8:41 AM, General News



Maple Leaf Foods to Acquire VIAU Foods

Builds market leadership in premium Italian, cooked and dry cured meats

Maple Leaf Foods Inc. (TSX: MFI) today announced that it has signed a definitive agreement to acquire VIAU Foods, a Canadian market leader in premium Italian cooked, dry-cured and charcuterie meats for a purchase price of $215 million, including $30 million in Maple Leaf stock. With sales of $180 million over the last twelve months, the transaction is expected to be accretive to Maple Leaf's earnings per share in the first year and to the Company's margin expansion over time.

"VIAU brings a portfolio of leading brands, a reputation for innovation and quality, skilled management and people, and excellent manufacturing assets," said Michael McCain, President and CEO of Maple Leaf Foods. "This acquisition expands Maple Leaf's position in the growing market for premium dry cured and pepperoni meat products and provides further production capacity in Quebec, an important strategic base to grow both Canadian and U.S. sales. It also enables VIAU to...

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Oct 2 8:48 AM, General News




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