News Takeover
Canadian pork giant grows strongly due to takeover
Canadian pig giant Maple Leaf Foods is to acquire 4 pig farms, which jointly bear the name Polar Pork. With the purchase, Maple Leaf can process considerably more pigs in order to increase sales at home and abroad.
Maple Leaf Foods, Canada's largest pork processor, announced its purchase of Polar Pork in early July. The companies are located in the province of Saskatchewan. The acquisition is not expected to close until June 2022. Maple Leaf Foods expects to invest a total of $27 million in the companies. This includes the purchase and capital investment to optimize capacity.
“This purchase gives us easy access to some of the healthiest pigs in Saskatchewan, enabling us to improve our supplies of high-quality pork to customers in Canada and Asia. Including these houses in Maple Leaf Foods fits our strategy to as an international business," said Michael Detlefsen, CEO of Maple Leaf.
Expand production capacity
The takeover will significantly expand production capacity. The Polar Pork companies can jointly supply approximately 140.000 pigs to Maple Leaf. This additional processing capacity is accompanied by plans to continue to increase production and to be able to supply additional pork to international markets. Maple Leaf is one of the top 10 major hog slaughterhouses in North America and the company produces more than 1,5 million pigs annually.
Chanti Oussoren
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