Maple Leaf Foods to sell Drummondville poultry plant to Giannone Poultry

Maple Leaf Foods, a Canadian consumer packaged meats company, has reached an agreement to sell its poultry plant in Drummondville, Quebec, and associated supply, to Giannone Poultry, for an undisclosed price.

As part of the deal, the parties have signed a three-year supply agreement for enabling Maple Leaf Foods to maintain its supply of fresh chicken.

Maple Leaf Foods acquired the Drummondville poultry plant and supply in 2018 following the purchase of certain Cericola Farms assets.

The Canadian packaged meats company said that it will continue to own and operate the Bradford, Ontario poultry plant that was also purchased in connection with the 2018 Cericola deal.

Maple Leaf Foods expects the sale of the poultry plant in Drummondville to be completed this summer, subject to standard closing conditions and routine regulatory processes.

Michael McCain – President and CEO of Maple Leaf Foods said: “Core to Maple Leaf’s strategy is sustainable and value-added meat protein products.

“Over the past few years, our leadership position in this category has grown; however, we are focused on prioritizing capital and optimizing our processing network.  The sale of the Drummondville facility is an outcome of our continued network optimization.”