Maple Leaf Foods Unveils Future Name of New Pork Company as It Advances Plan to Separate Its Pork Sector
MISSISSAUGA, ON, the 10 oct. 2024 /CNW/ – Today, Maple Leaf Foods Inc. (TSX: MFI) (Maple Leaf Foods or the Company) announced that Canada Packers Inc. (Canada Packers) will be the planned name of the new pork company, a once it completes the previously announced separation of its pork business as a new independent public company.
Logo du Canada Packers (Groupe CNW/Maple Leaf Foods Inc.)
“We are delighted to launch Canada Packers as the new name for our future independent pork company,” says Dennis Organpresident of the Maple Leaf Foods Pork Complex and new CEO of Canada Packers. This choice reflects the deep respect we reserve for the history and heritage of this iconic brand, while providing us with the opportunity to advance it and link it to our ambitious vision for the future as a pork producer. global scope. »
Canada Packers’ heritage as a pork industry leader dates back nearly a century. The new company will build on this legacy as an industry leader and move forward with a focus on sustainable solutions and global reach.
“Canada Packers is a distinctive, memorable and authentic name for the new pork company,” explains Curtis FrankPresident and CEO of Maple Leaf Foods. While having strong roots that represent an important part of Maple Leaf Foods’ history, Canada Packers also provides a platform for the forward-thinking vision that Dennis and his team have adopted as they define their next steps in quality. of an independent company. We are excited about what the future holds for Canada Packers, as we advance plans that will allow us to complete the separation of the businesses in 2025.”
The new Canada Packers brand identity incorporates elements of its almost century-old logo, with the capital letters “C” and “P” and a regenerated Canadian flag. The company also changed its color palette to reflect its focus on sustainability, moving from blues and reds to the natural green and blue tones that are tied to so much of the Canadian landscape .
“It was essential to capitalize on the historic past, but not at the expense of the future and the progress that this brand represents,” says Organ. The new brand image honors these roots while projecting Canada Packers into a dynamic and innovative future. We expect the Canada Packers brand choice and new logo to represent a beacon of leadership in the global fresh food sector for another hundred years. »
As independent companies, Maple Leaf Foods and Canada Packers will each have exciting perspectives, an increased focus on execution and the financial independence to implement their own value creation strategies without compromising their industry-leading safety and sustainability capabilities. Maple Leaf Foods will continue to play a leading role as a powerhouse in the consumer packaged goods sector, while Canada Packers will leverage its rich heritage and specialized skills in the pork sector to continue its journey as a as the world leader in sustainably produced meat.
Upon completion of the separation, Maple Leaf Foods will retain its 19.9% interest in Canada Packers and the two companies will enter into an open-ended supply agreement that will provide Maple Leaf Foods with secure access to premium pork. premium quality sustainably produced and to Canada Packers, a trusted primary customer in North America trading at prices calculated using a market-based formula.
As announced in July 2024, Canada Packers will be spun off as an independent, publicly traded company in 2025.
Forward-looking statements
This press release contains statements made by representatives of the Company, in their remarks relating to this press release, which may make forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations, estimates, forecasts and projections about the industries in which the Company operates and on opinions and assumptions made by the Company’s management. These statements include, but are not limited to, statements regarding timing, execution, implications, benefits, returns, capabilities, structure, approvals, value proposition and business model. company associated with the proposed separation of the Company into two independent public companies, as well as all of the Company’s plans, actions and strategies. These statements are not guarantees of future performance and are based on assumptions, risks and uncertainties that are difficult to predict.
These statements are based on and have been developed based on a number of factors and assumptions including, but not limited to: expectations and assumptions regarding the timing and completion of the separation of Foods Maple Leaf into two independent public companies and the success of such a separation; expectations regarding adaptations to operations, supply chain, customer and consumer behavior, economic structures (including, but not limited to, global pork markets, exchange rates, market dynamics international trade and access to capital); the competitive environment, related market conditions and market share metrics; and the success of the operational strategies of Maple Leaf Foods and the new pork company. Although the Company considered these assumptions to be reasonable as they were made, actual results could differ materially from the results expressed, implied or anticipated in these forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements, as they are not guarantees of future performance. Additional factors that could cause actual results to differ materially from those expressed or implied or anticipated in the forward-looking statements are described more fully in the Company’s filings with Canadian regulators, including included in the “Risk Factors” section of the company’s management report for the year ended December 31 2023 et the quarter ended June 30, 2024, as well as the press release dated July 9, 2024 announcing the separation. All of these documents can be viewed on SEDAR+ at https://www.sedarplus.ca/landingpage/fr/
The Company does not intend to update any forward-looking statement (or financial outlook), whether oral or written, and expressly disclaims any obligation with respect thereto, whether as a result of new information, future events or other factors, except where required by law.
About Maple Leaf Foods Inc.
Maple Leaf Foods Inc. is a carbon-neutral company with a vision to be the most sustainable protein company on earth by responsibly manufacturing food products under national brands like Maple Leaf®Premium by Maple Leaf®Natural Selections Maple Leaf®Schneider’s®Country NaturalsMD Schneider’s®MinaMDGreenfield Natural Meat Co.MDLightlife® et Field RoastMC. Maple Leaf Foods employs approximately 13,500 people and operates across Canadain the United States and Asia. The company’s head office is located in Mississaugain Ontarioand its shares are listed on the Stock Exchange of Toronto under the symbol MFI.
SOURCE Maple Leaf Foods Inc.
Investor contact: [email protected]; Info-media: [email protected]
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