Maple Leaf Foods buying Italian cured meats maker Viau Foods for $215M
The transaction expands its position in the market for cured meats and is expected to close in December
MISSISSAUGA, Ont. – Maple Leaf Foods Inc. has signed a deal to buy Viau Foods, a maker of Italian cooked, dry-cured and charcuterie meats, for $215 million.
Maple Leaf Foods chief executive Michael McCain says the deal expands its position in the market for premium dry cured and pepperoni meat products and adds production capacity in Quebec.
Viau employs 470 people at its facilities in Laval, Que., and Montreal.
It produces a range of prepared meats including cooked Italian meats, sausages, pizza toppings, shaved steak and meatballs.
It also has a range of gourmet deli and premium charcuterie products including salametti, capicollo, pancetta and sliced chorizo.
The transaction, which includes $30 million in Maple Leaf stock, is expected to close in December, subject to regulatory review.