Maple Leaf Foods
Maple Leaf Foods is an international packaged meat company. Founded by Canada Packers’ acquisition of Maple Leaf Mills in 1991, Maple Leaf Foods is a public company, listed on the Toronto Stock Exchange as MFI. The head office for Maple Leaf Foods is located in Toronto, Canada.
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For US food manufacturers struggling with rising raw-material costs - and fearful of the impact that slapping a higher price on their products could have on sales volumes - the words last week of the chief executive of one of the country's largest retailers would have provided some reassurance.
Maple Foods is to continue to try to increase prices to offset commodity costs, with the Canadian food maker's CEO insisting food inflation was a retailer's "friend" not its "enemy".
Maple Leaf Foods reported higher third-quarter earnings today (2 November), with growth supported by an increase in revenue and improved operating margins.
Margin improvements and higher sales at Maple Leaf Foods enabled the Canadian meat company to book a jump in first half earnings yesterday (29 July).
Maple Leaf Foods is launching a "premium" line of prepared meats in Canada, Maple Leaf Canadian Craft.
Maple Leaf Foods said today (4 May) it hit the "milestone" of delivering a "sustainably more profitable company" in the first quarter of 2016 following an investment programme designed to strip costs out of its production base.
Canadian meat processor Maple Leaf Foods returned to profit in 2015 on improved margins in its meat unit - the arm responsible for its value-added prepared meats, lunch kits and snacks, and fresh pork and poultry products - and the absence of one-off costs which hit last year's bottom line.
Canadian meat group Maple Leaf Foods has announced pledges as part of a "formal animal care commitment".
Ahead of the climate talks in Paris, Unilever announced plans to be carbon positive from its operations by 2030. Elsewhere, there was more consolidation in the US food sector, with Pinnacle Foods moving for Boulder Brands. Tyson Foods, Post Holdings and Greencore all had annual results out in the week. Maple Leaf Foods outlined plans to "streamline" its business, which is set to lead to the loss of 400 staff. Here is the week in quotes.
The US food sector saw another major takeover this week with Pinnacle Foods agreeing to pay US$975m for free-from group Boulder Brands. The country could soon see another, with Thai Union Group saying there are "serious" buyers lined up for Chicken of the Sea - a business it is willing to sell to secure another US asset, Bumble Bee Foods. And, ahead of the climate change talks in Paris next week, Unilever announced plans for its operations to be "carbon positive" in 15 years.
Canadian meat processor Maple Leaf Foods has announced 400 jobs will go as it "streamlines" the business.
Shares in Maple Leaf Foods tumbled today (29 October) after the Canadian meat processor, which reported improved earnings despite a dip in sales, pushed back a profitability target into next year.
Canadian meat products producer Maple Leaf Foods has announced all its protein, ingredient and packaging suppliers must comply with a Global Food Safety Initiative (GFSI) by 2017.
Maple Leaf Foods president and CEO Michael McCain said today (31 July) the Canadian group was "pleased with its progress" in the second quarter, with volumes up, margins improving and losses narrowing.
Maple Leaf Foods has seen an improvement in operating earnings for the first quarter of the year as a result of the higher pricing of meat products.
Canadian meat processor Maple Leaf Foods run up a fourth-quarter loss of C$23m - narrower than a year earlier - but shares in the company fell in early trading today (26 February).
Canadian meat processor Maple Leaf has marked Chinese New Year with the launch of two Chinese-style sausage products in its domestic market.
Maple Leaf Foods' third-quarter earnings came in below analyst expectations today (30 October) as the Canadian group registered greater-than-expected charges related to a scheme to modernise some of its meat plants.
Mexico-based baker Grupo Bimbo has posted a 31% rise in nine-month earnings as sales were boosted by recently-acquired Canada Bread and as raw material costs fell in the third quarter.
Restructuring-related charges hit Maple Leaf Foods' bottom line in the first half of 2014, despite the Canadian meats group seeing an increase in sales.
Canadian food group Maple Leaf Foods has sought to increase prices on its pork products after the US hog virus pushed up costs and contributed to pressure on profits in the first quarter of 2014.
Canadian food group Maple Leaf Foods has announced the closure of its wiener production facility in Hamilton.
Maple Leaf Foods has introduced a "complete protein snack" in a bid to get more Canadians to ensure they are getting an "adequate amount of complete protein" in their diets.
More job cuts are likely to result from Maple Leaf Foods' move to realign its organisational structure after the group sold off its bakery unit earlier this year.
Maple Leaf Foods has announced plans to "streamline" its management structure in a bid to improve operating margins following the sale of its majority-owned bakery business, Canada Bread.
Maple Leaf Foods CEO Michael McCain is looking to 2014 with optimism after the Canadian food group saw profits fall in 2013 amid the cost of revamping its plant network, higher input costs and lower sales.
Rumours Chinese pork giant WH Group is eyeing acquisitions, particularly in the US, have surfaced.
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