Maple Leaf Foods looks to Divest its Animal Nutrition Business

by 5m Editor
1 December 2006, at 1:16am

TORONTO - 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

5m Editor