Maple Leaf Foods, Canada, signed a definitive agreement to acquire two poultry plants and associated supply from Cericola Farms, Canada. Collectively, the company’s two plants process approximately 32 million kg of chicken annually.
With this agreement, Maple Leaf secures 100% of the processed chicken volume from Cericola's primary processing plant in Schomberg, Ontario, Canada, and holds an option to acquire this asset and associated plant supply in three years.
"Cericola is a leader in raised without antibiotics and organic chicken. This acquisition will build Maple Leaf's market leadership in these value-added categories and enable us to meet growing consumer demand," says Michael McCain, president and CEO of Maple Leaf Foods.
"Our vision over the past 60 years has been to provide wholesome and natural poultry products to our customers. It is this tradition of excellence that aligns Maple Leaf and Cericola," adds Mary Cericola, founder of Cericola Farms.
This acquisition will provide Maple Leaf with additional supply and value-added processing capability to advance its leadership in higher value categories. Cericola specializes in air-chilled processing of antibiotic-free, animal byproduct-free (AABF) and organic poultry products.