Maple Leaf Foods, Canada, reached a definitive agreement to acquire Field Roast Grain Meat Co., Seattle, Wash., for $120 million. Field Roast is a leading brand of premium grain-based “meat” and vegan cheese products.
"The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins," says Michael McCain, president and CEO of Maple Leaf Foods. "It also aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact. Field Roast has built brand leadership through focusing on quality, craftsmanship and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation."
Field Roast pioneered the development of artisanal quality, grain-based meat products, and draws on culinary heritage from Europe and Asia, using grains, fresh vegetables, dried fruits, wine and spices in its recipes. Products include fresh and frozen grain-based roasts and loaves, sausages and frankfurters, burgers, deli slices and appetizers and Chao brand vegan cheese slices and entrées, marketed across North America. The acquisition includes Field Roast’s 200 employees and its 75,000-square-foot leased manufacturing facilities in Seattle.