Maple Leaf Foods Inc. announced on July 9, 2024, a strategic plan to separate into two independent public companies, each with a focused growth strategy and a solid commitment to sustainability.
According to the company, this move unlocks significant shareholder value by enabling specialized entities to pursue their business goals better.
Maple Leaf Foods will continue its mission to be the most sustainable protein company on Earth as a focused, brand-led consumer packaged goods company. Meanwhile, the newly formed Pork Company, whose name will appear in the coming months, will operate independently, leveraging its position as a leader in sustainable meat production.
Curtis Frank, President and CEO of Maple Leaf Foods, said, “This transaction is the start of a new era to unlock the full potential of two outstanding businesses, each with a distinct value proposition and growth opportunities.”
Frank said as separate companies, Maple Leaf Foods and the new Pork Company will each have exciting prospects, a sharpened execution focus with its dedicated management team, and the financial independence to pursue its value creation strategy, all with an uncompromising commitment to safety and sustainability.
Maple Leaf Foods will retain a 19.9 per cent ownership stake in the new Pork Company and establish an evergreen pork supply agreement to ensure a secure supply of high-quality, sustainable pork at market prices. This arrangement will support Maple Leaf Foods’ Prepared Foods business while providing the new Pork Company with a strong anchor customer. Maple Leaf Foods will also offer brokerage services and other support to the new entity.
The separation, expected to be completed in 2025, has received approval from Maple Leaf Foods’ Board of Directors and the full backing of its largest shareholder, McCain Capital Inc., and the McCain family.
Michael H. McCain, Executive Chair of Maple Leaf Foods, said, “This is the right transaction at the right time as we move forward with our sustainability vision, seeking to create value for all stakeholders.”

He said that under Curtis’ leadership, Maple Leaf Foods is on a path to deliver best-in-class consumer packaged goods performance. In contrast, the new Pork Company, under Dennis Organ’s leadership, will be able to leverage its unique capabilities and industry-leading performance to take advantage of new prospects for growth.
Dennis Organ, incoming CEO of the new Pork Company, said the new Pork Company will offer investors direct access to one of the world’s foremost premium value-added pork producers with a clear vision to produce meat the right way while delivering industry-leading financial performance.
“We are already setting the standard for best practices in sustainability, animal welfare, and high-quality pork production,” said Organ.
The company said Maple Leaf Foods aims to drive growth in sustainable meats, expand its U.S. market reach, and diversify its protein product portfolio.
Curtis Frank added, “This announcement is a pivotal next step in Maple Leaf Foods’ journey to becoming a globally admired, brand-led consumer packaged goods powerhouse. Global demand for sustainably produced protein is expected to grow significantly, and we have built the right platform to unlock stakeholder value as we meet that demand.”
The new Pork Company will focus on unlocking growth potential through organic and inorganic opportunities, optimizing operations, and enhancing its industry-leading sales mix and margins. It will maintain an evergreen pork supply agreement with Maple Leaf Foods and leverage its North American sales network.
The strategic separation of Maple Leaf Foods into two focused, independent entities marks a significant step forward in the company’s commitment to sustainability and growth. This transaction positions Maple Leaf Foods and the new Pork Company to achieve long-term success, benefiting stakeholders and advancing best-in-class practices in the food industry. •
— By Harry Siemens