Maple Leaf Foods to close its Brantford, Ontario, plant and consolidate most of its further processed poultry production into its existing plant network through early 2025

May 22, 2024 (press release) –

Maple Leaf Foods Inc (TSX:MFI)
Shares Issued 122,942,966
Last Close 5/22/2024 $23.19
Wednesday May 22 2024 - News Release

Mr. Curtis Frank reports

MAPLE LEAF FOODS TO CLOSE BRANTFORD PLANT AND CONSOLIDATE PRODUCTION INTO OTHER FACILITIES

Maple Leaf Foods Inc. has decided to close its Brantford, Ont. , plant and consolidate most of its further processed poultry (FPP) production into its existing plant network through early 2025.

Earlier this year, the company determined that this 100-year-old facility would likely require significant continuing investment to continue long-term operations.

"The decision to close any plant is one that we take very seriously," said Curtis Frank , president and chief executive officer, Maple Leaf Foods . "We are very proud of our team at Brantford and appreciate the great work they do each and every day."

The closure of the plant will be completed in a phased manner to maintain business continuity and meet customer demand. The company will work with the affected team members to provide support and assistance through this transition, including supporting other opportunities at other Maple Leaf Foods facilities.

"Consolidating production into our current network allows us to reallocate our resources and increase our efficiencies by further optimizing the existing, more modern facilities in our network," said Mr. Frank . "This supports our vision to be the most sustainable protein company on Earth and our commitment to produce world-class products safely and efficiently as we support the growth of our protein business."

Consolidating production enables the company to harvest the benefits of its network and focus on improving operational efficiency, cutting down on waste and growing asset utilization.

Maple Leaf Foods will work with the community of Brantford to seek alternate uses for the property.

About Maple Leaf Foods Inc.

Maple Leaf Foods is a carbon-neutral company with a vision to be the most sustainable protein company on earth, responsibly producing food products under leading brands, including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, Greenfield Natural Meat Co. , Lightlife and Field Roast . Maple Leaf Foods employs approximately 13,500 people, and does business in Canada , the United States and Asia . The company is headquartered in Mississauga, Ont. , and its shares trade on the Toronto Stock Exchange (MFI).

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