Food Industry
Industry: Email Alert RSS FeedMaple Leaf Foods Sells Its Animal Nutrition Business.
Resource News International, May, 2007
Byline: Resource News International
WINNIPEG, MB, May 22, 2007 (Resource News International via COMTEX) -- Maple Leaf Foods (TSX: MFI) will sell its animal nutrition business to Nutreco Holding NV for C$500 million plus normal closing adjustments, a release from Maple Leaf said. The transaction is expected to close in July 2007.
"We are delighted to have reached this agreement with Nutreco," said Michael McCain, President and CEO of Maple Leaf Foods. "This sale is another major step on our transformational journey as we focus on our core value added bakery, meats and meals businesses."
He said Maple Leaf's animal nutrition business was a leader in Canada with a great management team, dedicated employees and excellent prospects, but it does...
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