Maple Leaf Foods has bought a Cericola Farms poultry processing plant located near Schomberg, Ontario.
The acquisition – which includes the facility’s associated poultry supply – is said to align with Maple Leaf’s strategy to expand its meat protein business.
The transaction was completed in accordance with the exercise of a put option by the vendors, Certm and related companies.
The put option was part of a 2018 agreement which previously saw Maple Leaf acquire two other Cericola Farms poultry plants in Canada.
At the time, Maple Leaf entered into a deal to secure 100% of the processed chicken volume from the Schomberg plant, with an option to acquire this asset and associated plant supply in three years.
© FoodBev Media Ltd 2021
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