Maple Leaf Foods Inc. (TSX: MFI) (Maple Leaf Foods or the Company) today unveiled that Canada Packers Inc. (Canada Packers) will be the future name of the new pork company once it completes the previously announced separation of its pork business as a new independent, public company.
"We are thrilled to launch Canada Packers as the new name for our future independent pork company," said Dennis Organ, President of Maple Leaf Foods' Pork Complex and incoming CEO of Canada Packers. "This choice reflects our deep respect for the history and legacy of this iconic brand, while affording us the opportunity to bring it forward and blend it with our ambitious vision for the future as a world-leading pork producer."
The heritage of Canada Packers as a leader in the pork business goes back nearly a century. The new company will build on this legacy as an industry leader and will move forward with a focus on sustainable solutions and global reach.
"Canada Packers is a distinctive, memorable and authentic name for the new pork company," said Curtis Frank, President and CEO, Maple Leaf Foods. "While grounded in solid roots that have been an important part of Maple Leaf Foods' history, Canada Packers also provides a platform for the forward-thinking vision that Dennis and his team have embraced as they chart their next steps as an independent company. We are excited for what the future holds for Canada Packers as we advance plans to complete the separation of the businesses in 2025."
The new Canada Packers brand identity incorporates the iconic elements from its almost 100-year-old logo, with the capital "C" and "P" and refreshed Canadian flag featured. The company has also changed its colour palette to reflect its focus on sustainability, shifting from blue and red to the natural green and blue tones that connect so much of Canada's landscape.
"Leveraging the historic past was key, but not at the expense of the future and progress this brand represents," said Organ. "The new branding honours these roots while propelling Canada Packers towards a dynamic and innovative future. We expect the new Canada Packers logo and branding to be a beacon for leadership in the fresh food space globally for another hundred years."
As independent companies, Maple Leaf Foods and Canada Packers will each have exciting prospects, a sharpened execution focus, and the financial independence to pursue their own value creation strategies, all without compromising their industry-leading capabilities in safety and sustainability. Maple Leaf Foods will continue its leadership as a consumer packaged goods powerhouse, while Canada Packers will leverage its rich heritage and expertise in the pork business to continue its path forward as a global leader in sustainably produced meat.
Upon completion of the separation, Maple Leaf Foods will retain an 19.9% ownership position in Canada Packers, and the two companies will enter into an evergreen pork supply agreement that will provide Maple Leaf Foods with secure access to high-quality, sustainably produced pork and will provide Canada Packers with a secure anchor customer in North America transacting at market-based formula pricing.
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