Maple Leaf Foods Splits, Spins Off Pork Business
Maple Leaf Foods is dividing its business, spinning off a separate public entity for its pork operations. The new company will be named in the coming months and will focus on sustainable protein production that runs on its own operating model.
Maple Leaf Foods was originally established in Canada in 1991, transforming into a CPG company with such brands as Schneiders, Lunch Mate, Grab’N Snack, Field Roast, LightLife, Mina, Fantino and Mondello, and others.
The new pork company will continue to supply raised without antibiotics pork and conventional pork products to customers across Canada, the U.S., and internationally. The new structure is expected to increase production volume and optimize operations and efficiencies.
The terms:
- Maple Leaf Foods retains a 19.9% ownership position in the new company
- The companies have entered into an evergreen pork supply agreement — Maple Leaf Foods secures access to the pork products at market prices
- Maple Leaf Foods will provide the new company with brokerage services in North America
- The transaction will be finalized in 2025
- President and CEO Curtis Frank will continue to lead Maple Leaf Foods alongside Adam Grogan, president and COO, and David Smales, CFO
- Dennis Organ will lead the pork company as CEO
Organ has been with Maple Leaf Foods since 2023, serving as president of the company’s pork complex business. He brings over 27 years of food industry experience, having spent more than a decade with Smithfield Foods where he was COO and CEO.
“This transaction is the start of a new era to unlock the full potential of two outstanding businesses, each with a distinct value proposition and growth opportunities,” said Frank. “As separate companies, Maple Leaf Foods and the new pork company will each have exciting prospects, a sharpened execution focus with its own dedicated management team, and the financial independence to pursue its own value creation strategy, all with an uncompromising commitment to safety and sustainability.”
