Maple Leaf Foods plans to split into two independent public companies (updated)

Maple Leaf Foods

09/07/2024 11:23

(Adds details in paragraph 2-4)
       July 9 (Reuters) - Maple Leaf Foods  MFI.TO  plans to
separate into two independent public companies, the food
processing firm said on Tuesday.
    Maple Leaf Foods will retain a 19.9% ownership position in
the newly formed Pork Company, and the two companies will enter
into an evergreen pork supply agreement, the company said.
    Maple Leaf Foods will continue to be led by CEO Curtis
Frank, while Dennis Organ will be the CEO of the new company.
    The separation plan, which has been approved by the board of
directors, is expected to be completed in 2025.

 (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by
Vijay Kishore)
 ((AnujaBharat.Mistry@thomsonreuters.com;))