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Maple Leaf Foods to acquire hog production company
Story Date: 11/5/2012
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Source: Tom Johnston, MEATINGPLACE, 11/2/12
Maple Leaf Foods announced today an agreement to acquire Manitoba hog production company Puratone Corp. for some $42 million. The transaction, which includes livestock, facilities and interests in some joint ventures, is expected to close within a month, pending regulatory approvals, the company said in a news release.
“This acquisition will ensure a consistent supply of hogs to our processing facility in Brandon, which is an integral supplier to our value added prepared meats and pork business,” Maple Leaf Foods President and CEO Michael McCain said.
Puratone operates about 50 barns in Manitoba near Maple Leaf’s Brandon plant and produces some 500,000 hogs per year. The company also runs three feed mills.
With this acquisition Maple Leaf will own 30 percent of its hog supply into Brandon and produce about 1.2 million hogs annually.
Maple Leaf Foods had sales of $4.9 billion in 2011.
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