MONTREAL • One of Quebec’s biggest food co-operatives is buying the producer of iconic Butterball turkey in Canada in a renewed bid to get Canadians eating more of the fleshy-wattled bird after three decades of stagnant consumption.
Lévis, Que.-based Exceldor is taking over Streetsville, Ont.’s P&H Foods as parent company Parrish & Heimbecker Ltd. concentrates on its core businesses including grain merchandising and milling. Terms of the transaction were not disclosed.
TORONTO – Maple Leaf Foods Inc. CEO Michael McCain put takeover speculation to rest Wednesday as industry watchers eye the U.S. bidding war currently under way for Hillshire Brands Co.
“Maple Leaf is not for sale, it hasn’t been for sale,” and the large meat processor has not been approached by prospective buyers, Mr. McCain said in an interview Wednesday after speaking at the Retail Council of Canada’s Store 2014 conference in Toronto.
Maple Leaf Foods Inc. (OTCPK:MLFNF) Q4 2013 Earnings Conference Call February 27, 2014 2:30 pm ET
Michael H. McCain - President and Chief Executive Officer, Maple Leaf Foods Inc. Michael H. Vels - Chief Financial Officer, Maple Leaf Foods Inc.; Canada Bread Company, Limited
Christine Healy - Scotiabank GBM Irene Nattel - RBC Capital Markets Derek Dley - Canaccord Genuity
By Mike Arnold:Maple Leaf Foods [(MLFNF.PK)(MFI.TO)] ("Maple Leaf" or "MLF" or "the company") is an undervalued Canadian food producer, comprised of a protein business and a bakery business. While the Maple Leaf business couldn't be more bland, the restructuring currently underway at Maple Leaf is more intriguing and causing the investment opportunity in the shares.
TORONTO — Maple Leaf Foods Inc. posted a $14.8-million loss in what the company concedes was a “very difficult” first quarter, but CEO Michael McCain described the problems as both “transitory” and “self-correcting.”
“This was a very difficult quarter, with lower earnings in our protein business overshadowing good improvement in our bakery results,” McCain said.
WINNIPEG, Manitoba — Canadian pork processor Maple Leaf Foods said on Tuesday it will idle production at its Brandon, Manitoba hog plant one day per month during the next five months as it grapples with a shortage of pigs.
North American hog supplies have run thin since last year’s detection of the Porcine Epidemic Diarrhea virus (PEDv) in the United States, where it has killed about 7 million piglets.
The virus has also spread slowly into several Canadian provinces, including Manitoba, without the same high mortality rates as in the United States.
TORONTO — Maple Leaf Foods Inc. (TSX:MFI) has agreed to sell its Rothsay business unit to a Texas-based company.
The Rothsay business operates six rendering plants and a biodiesel plant employing a total of 550 in four provinces.
The rendering plants in Manitoba, Ontario, Nova Scotia and Quebec recover fats and proteins produced as a by-product of the slaughtering process.
The biodiesel plant in Quebec creates products for use as fuel.
Saab's owner Swedish Automobile said Wednesday it had secured more short-term funding with a 25-million-euro ($36-million) loan and that it has paid its staff's salaries for June."Swedish Automobile announces that it entered into a 25 million euro convertible bridge loan agreement with Gemini Investment Fund Limited, thereby securing additional short-term funding," it said in a statement.