Maple Leaf Foods looks to Divest its Animal Nutrition Business
01 December 2006TORONTO - Maple Leaf Foods has announced that it has retained RBC
Capital Markets as its financial advisor to assist in the divestiture
of Maple Leaf Animal Nutrition and related businesses.The process will entail a solicitation of interest from potential purchasers and
is expected to begin in January 2007.
"The decision to divest of this business results from a reorganization
of the Company's protein value chain operations, which includes our
feed business, to focus on growth in the value added meats and meals
markets. Operating a largely independent animal nutrition company is
strategically not aligned to this new model," said Michael Vels, Chief
Financial Officer of Maple Leaf Foods.
"Maple Leaf Animal Nutrition is
an outstanding business built by a highly experienced management team
and employees, with long-standing customer relationships, world-class
animal nutrition R&D technology, and excellent growth prospects that
will be best realized through the sale of this business."
ThePigSite News Desk
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