Maple Leaf: frees capital to support future investments

Toronto / CA. (ml) Maple Leaf Foods Inc. announced that it has entered into a definitive agreement to sell Rothsay, its rendering and biodiesel business, to Darling International Inc. of Irving, Texas. The transaction is expected to close by the end of 2013, subject to regulatory approvals. «The sale of our rendering and biodiesel business supports our strategy to focus on effective capital deployment and profitable growth in the consumer packaged foods market», said Michael McCain, President and CEO. «We are delighted to have concluded almost a year-long process with an agreement with Darling, the North American leader in food waste recycling. The sale will support future investments in our consumer facing businesses and allow Darling to build on Rothsay´s strong capabilities and deep customer relationships». Maple Leaf Foods Inc. is a leading food company based in Toronto, Canada. The Company employs about 19’500 people at its operations across Canada and in the United States, the United Kingdom and Asia. The Company had sales of 4,9 billion CAD in 2012. To 90 percent Maple Leaf is the parent company of Canada Bread. The bakery employs more than 8’000 people at its operations in Canada, the United States and the United Kingdom.