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Maple Leaf Foods Acquires Vegan Field Roast Grain Meat
USAgNet - 12/13/2017

The Canadian-based Maple Leaf Foods announced it has reached a definitive agreement to acquire Field Roast Grain Meat1 Co., a Seattle, Washington-based maker of premium plant-based meats for $120 million.

Maple Leaf is a focused consumer packaged meats company that is organized into two groups - its Meat Products Group and Agribusiness Group, through which it raises and processes hogs, and sells its range of meat products primarily on the Canadian, U.S., Mexican, and Japanese markets.

This deal, which will be financed through a combination of cash-on-hand and draws from existing credit facilities, is the second vegan acquisition for Maple Leaf this year, following its purchase of U.S.-based LightLife Foods Inc. from Brynwood Partners Vi PL in February for $140 million.

Joining LightLife will be Field Roast. Founded in 1997, Field Roast is a pioneer in plant-based meats, which it makes using grains, fresh vegetables, dried fruits, wine, and spices. It's product line includes fresh and frozen grain-based roasts, sausages, burger, frankfurters, deli meats, appetizers, Chao brand vegan cheese slices, and entrees, which are marketed across North America, earning sales of approximately $38 million.


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