Maple Leaf Foods announced that it has entered into a definitive agreement to acquire the Puratone Corporation, a leading Manitoba hog production company, for approximately $42 million including livestock, facilities and interests in some joint ventures. The transaction is expected to close within a month, subject to court and regulatory approvals.
"This acquisition will ensure a consistent supply of hogs to our processing facility in Brandon, which is an integral supplier to our value added prepared meats and pork business," said Michael H. McCain, president and CEO. "We look forward to welcoming Puratone employees to Maple Leaf and benefiting from their experience and strong commitment to best practices."