Deal for vegan 'meat' maker to cost $120 million.
December 1, 2017
by Canadian Packaging staff
Maple Leaf Foods has agreed to acquire the Seattle-based Field Roast Grain Meat Co. in a US$120 million deal.
Founded in 1997, Field Roast is a leading brand of premium grain-based “meat” and vegan cheese products, with sales of approximately US$38 million.
“The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins,” says Maple Leaf Foods president and chief executive officer Michael McCain.
He continues: “It also aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact. Field Roast has built brand leadership through focusing on quality, craftsmanship and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation.”
Field Roast pioneered the development of artisanal quality, grain-based meat products and is a leading brand in the premium segment. It draws on culinary heritage from Europe and Asia in its recipes, using grains, fresh vegetables, dried fruits, wine and spices.
Available across North America, the vegan products include fresh and frozen grain-based roasts and loaves, sausages and frankfurters, burgers, deli slices and appetizers. Field Roast employs approximately 200 people at its 75,000-square-foot leased manufacturing facilities in Seattle.
For more information on Field Roast Grain Meat Co., visit www.fieldroast.com.
The acquisition will close at the end of 2017.
About Maple Leaf Foods
Maple Leaf Foods is a leading consumer protein company, making high quality, innovative products under brands including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Lightlife and Mina. The company employs over 11,000 people across North America and exports to more than 20 global markets. Maple Leaf is headquartered in Mississauga, Ontario. More information available at www.mapleleaffoods.com.