Maple Leaf Foods has agreed to acquire VIAU Foods for $215 million. VIAU is a premium Italian cooked, dry-cured, and charcuterie meats company that supplies the foodservice industry in North America and markets products through Canadian retailers.
The deal enhances Maple Leaf's position in premium dry cured and pepperoni meat products and adds production capacity in Quebec, which is a strategic location to grow Canadian and U.S. sales. "VIAU brings a portfolio of leading brands, a reputation for innovation and quality, skilled management and people and excellent manufacturing assets," said Michael McCain, president and CEO of Maple Leaf Foods.
For VIAU, the deal creates an opportunity to expand its portfolio to include raised without antibiotic products. "The resources that Maple Leaf brings will allow us to more quickly grow our business, provide additional product offerings to our customers, make further inroads into the U.S. market, and provide more opportunities to our people," says Pat De Marco, president and chief operating officer of VIAU.
Related: Maple Leaf Foods Removes Artificial Ingredients; J.M. Smucker Co. Agrees to Sell US Baking Business.
from Specialty Food News https://ift.tt/2P6oBlh
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