MISSISSAUGA, ON, - Maple Leaf Foods Inc. (TSX: MFI) ("Maple Leaf Foods" or the "Company"), an iconic Canadian-based branded food company, confirmed today that commercial production continues to ramp up at its new Bacon Centre of Excellence in Winnipeg, Manitoba.
First commercial production of bacon at this $182 million, 73,000 square-foot, state-of-the art expansion project got underway earlier this year, and the Company is continuing to ramp up production to meet growing customer and consumer demand. A key food service partner that will benefit from this new Canadian facility is A&W Canada.
"A&W has been an important customer and business partner of Maple Leaf Foods for many years," said Michael H. McCain, Maple Leaf Foods' Chief Executive Officer. "Both A&W and Maple Leaf Foods are powerhouse Canadian companies that are leading the way in delivering sustainable meats from humanely raised animals without antibiotics. Our ability to supply A&W's bacon needs with this strategic investment in Canada is yet another example of how we are working together to create shared value."
"Bacon is a key ingredient in some of our most iconic, craveable menu items, like the Teen Burger," said Susan Senecal, CEO of A&W Canada. "We are delighted to continue partnering with Maple Leaf Foods - a fellow Canadian company striving to bring simple, great tasting ingredients, farmed with care to Canadians - and celebrate this exciting milestone in their bacon journey."
Maple Leaf® Ready Crisp® Fully Cooked bacon products manufactured at the Bacon Centre of Excellence are now available at retail grocery stores across Canada.
"I am extremely proud of the work we are doing at our Bacon Centre of Excellence. Driving the growth of our brands via product quality and innovation is at the core of what we do," said Curtis Frank, Maple Leaf Foods' President and Chief Operating Officer. "Customer and consumer demand for Canadian supply of pre-cooked bacon products is very robust, and we are excited about the positive impact we are having on the local economy as we have added about 350 new team members at this manufacturing facility. With production continuing to ramp up, our Bacon Centre of Excellence is well on its way to delivering the financial returns that we expected."
The Company currently anticipates that the Bacon Centre of Excellence will deliver approximately $30 million to its annual Adjusted EBIDTA once the project is fully ramped up in the second half of 2023, which is in line with original expectations. Investment in this project drives further margin expansion, increases its capacity in the category, and creates further competitive advantage, all of which are consistent with the Company's capital investment strategy.
Source : Newswire.ca