Maple Leaf Foods to close sale of pork processing operation

Maple Leaf Foods Inc. is closing on its deal to sell a pork processing operation in Burlington, Ontario, Canada.
The sale, which will go to an affiliate of Sun Capital Partners Inc., is expected to bring in roughly $20 million. "This sale will complete the transformation of our fresh pork operations to focus our growth on branded, consumer-focused prepared meats and meals business," said Chief Financial Officer Michael Vels. The sale will reduce Maple Leaf's annual pork processing from over 7 million hogs to 4.3 million hogs.
The final transaction, expected to take place in the next few days, includes a long-term contract with Maple Foods' rendering operations.