09:06:47 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Maple Leaf Foods Inc
Symbol MFI
Shares Issued 122,471,191
Close 2023-12-01 C$ 24.57
Market Cap C$ 3,009,117,163
Recent Sedar Documents

Globe/CP say Maple Leaf Foods betting on plant protein

2023-12-04 07:36 ET - In the News

The Globe and Mail reports in its Monday, Dec. 4, edition that it has been more than five years since A&W first started selling Beyond Meat burgers to great initial success. A Canadian Press dispatch to The Globe reports that Beyond Meat's share price rose 163 per cent on its market debut in 2019 on the Nasdaq. These days, however, shares in Beyond Meat are trading at a fraction of their 2019 high. The exponential growth anticipated by many has not panned out. Yet industry experts say there is still plenty of growth in the future for plant-based meat products. In Canada, sales of plant-based protein products rose 7 per cent in the 2016-17 year, according to a 2019 report from the National Research Council Canada. In the second quarter of 2020, Maple Leaf Foods reported higher revenue, led by a 41-per-cent gain from its plant protein business. Maple Leaf bought Lightlife Foods and Field Roast Grain Meat in 2017, and in 2018 launched subsidiary GreenLeaf Foods with the two brands in its portfolio. It has announced investments into processing facilities for its plant-based products. Experts say the plant-based meat industry still has much to improve upon, especially with taste and texture.

© 2024 Canjex Publishing Ltd. All rights reserved.