Maple Leaf Foods is expanding its footprint in the alternative proteins market with the $120 million acquisition of Field Roast Grain Meat Co.
Seattle-based Field Roast provides premium grain-based ‘meat’ and vegan cheese products and has reported sales of around $38 million.
“The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins,” said Michael McCain, President and CEO.
“It also aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact.
“Field Roast has built brand leadership through focusing on quality, craftsmanship and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation.”
The transaction is expected to close by the end of 2017