logo
Maple Leaf Foods Inc. shareholders approve spin-off of Canada Packers and elect Board of Directors at the 2025 Annual and Special Meeting Français

Maple Leaf Foods Inc. shareholders approve spin-off of Canada Packers and elect Board of Directors at the 2025 Annual and Special Meeting Français

Cision Canada11-06-2025
MISSISSAUGA, ON, June 11, 2025 /CNW/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) announced today that its shareholders voted resoundingly to approve the proposed spin-off of the Company's pork operations to form Canada Packers Inc. ("Canada Packers"), and also re-elected all of the directors to the Maple Leaf Foods Board of Directors at its 2025 annual and special meeting of shareholders.
"The overwhelming endorsement of our shareholders for the spin-off of our pork operations marks an important milestone in one of the most transformational transactions in the Company's history," stated Curtis Frank, President and Chief Executive Officer of Maple Leaf Foods. "By creating two companies, each with its own robust business model, focused strategy, distinct investment profile, and compelling growth potential, Maple Leaf Foods is ready to unlock its potential as a purpose-driven, protein-focused, branded consumer packaged goods company. I thank our shareholders for supporting our bold vision for the future."
"This is a historic day in Canada Packers' progress toward becoming an independent, public company," said Dennis Organ, incoming President and Chief Executive Officer of Canada Packers. "With the confidence of the shareholders, we are excited to take our next steps as a global leader in sustainably produced, premium quality, value-added pork with diversified sales mix and global reach."
"I believe passionately in the powerful potential of this transaction to create value for all our stakeholders," said Michael McCain, Executive Chair of Maple Leaf Foods. "Shareholders will be able to participate in not one, but two strong, independent, sustainable and purpose-driven businesses, each with a clear mandate and investment profile. The McCain family and McCain Capital Inc. are deeply committed to the future of both companies, and we extend our congratulations to the Maple Leaf Foods management team for advancing to this critical next step in our purposeful journey.
The vote on the transaction, which required a 66 2/3% approval of votes cast by all the shareholders as well as a simple majority of votes cast by the public shareholders, was approved with 99.94% of votes cast by all shareholders and 99.88% of votes cast by the public (non-McCain) shareholders. The transaction is expected to be completed in the second half of 2025 pending receipt of an advance tax ruling and satisfaction of other customary closing conditions.
In addition to approving the spin-off transaction, shareholders voted to re-elect all of the incumbent directors to serve on Maple Leaf Foods' Board of Directors for the coming year. The results of the vote for the election of directors were as follows:
All other resolutions at the meeting were also successfully approved by shareholders, including:
the reappointment of KPMG LLP as the auditors of the Corporation (96.42% of votes cast in favour);
the Canada Packers Option Plan (98.47% of votes cast in favour); and
the advisory resolution on Maple Leaf Foods' approach to executive compensation (98.15% of votes cast in favour).
A full report on voting results is available under Maple Leaf Foods' profile on SEDAR+ at www.sedarplus.ca.
About Maple Leaf Foods
Maple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Mina®, Greenfield Natural Meat Co.®, LightLife® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).
Forward-Looking Statements
This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgements and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to timing, execution, implications, benefits, risks, returns, opportunities, structure, approvals, value proposition and business model associated with the proposed separation of the Company into two independent public companies, as well as the Company's overall plans, actions and strategies. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.
Specific forward-looking information in this document may includes, but is not limited to, statements with respect to the spin-off of the Company's pork operations; the benefits of the spin-off; timing for completion of the spin-off and satisfaction of the other closing conditions. These statements are based on and were developed using a number of assumptions including, but not limited to expectations and assumptions concerning the completion and expected benefits of the spin-off. Readers are cautioned that these assumptions may prove to be incorrect in whole or in part and actual results may differ materially from those anticipated in any forward-looking statements.
Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward-looking statements contained in this document include, among other things, risks associated with the following: the spin-off not proceeding as expected, including as a result of regulatory, market or other factors; the conditions of the spin-off not being satisfied, approvals or rulings not being secured on acceptable terms or at all; the possibility that the spin-off will not be completed within the anticipated time period or at all; and other factors as set out under the heading "Risk Factors" in the Company's Management Discussion and Analysis for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca. The Company cautions readers that the foregoing list of factors is not exhaustive.
All forward-looking statements included herein speak only as of the date hereof. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dynacor Group Declares August 2025 Dividend
Dynacor Group Declares August 2025 Dividend

Toronto Star

time3 minutes ago

  • Toronto Star

Dynacor Group Declares August 2025 Dividend

MONTREAL, July 24, 2025 (GLOBE NEWSWIRE) — Dynacor Group Inc. (TSX: DNG) ('Dynacor' or the 'Corporation') announced its monthly dividend payment for August 2025 in the amount of C$0.01333 per common share which will be payable on August 19, 2025, to shareholders of record as of the close of business on August 11, 2025. This dividend represents the sixty-fifth (65th) dividend and fifty-fifth (55th) monthly dividend payment made to shareholders. The Corporation's monthly dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation's financial results, cash requirements, prospects and other factors deemed relevant by the Board.

SECURE RELEASES 2024 SUSTAINABILITY REPORT: ADVANCING PEOPLE, PURPOSE, AND PROGRESS
SECURE RELEASES 2024 SUSTAINABILITY REPORT: ADVANCING PEOPLE, PURPOSE, AND PROGRESS

Cision Canada

time3 minutes ago

  • Cision Canada

SECURE RELEASES 2024 SUSTAINABILITY REPORT: ADVANCING PEOPLE, PURPOSE, AND PROGRESS

CALGARY, AB, July 24, 2025 /CNW/ - SECURE Waste Infrastructure Corp. ("SECURE" or the "Corporation") (TSX: SES) today announced the release of its 2024 Sustainability Report, detailing strong progress toward environmental, social and governance (ESG) goals and reinforcing the company's purpose: Transforming Waste into Value. "At SECURE, sustainability is more than a strategy, it's part of our ongoing operations as we transform waste into value," said Allen Gransch, President & CEO. "In 2024, we completed our first five-year sustainability strategy, repositioned our company with a new name and brand, and saw measurable operating results across every facet of our business. These efforts were driven by our people, whose grit, innovation and leadership continue to fuel our momentum." 2024 Sustainability Highlights: GHG Emission Intensity Reduced by 18% since 2021, exceeding SECURE's short-term target of 15%. 1.2 million barrels of oil recovered from waste, avoiding disposal. 237 thousand tonnes of scrap metal recycled, reducing the demand for virgin materials. Freshwater use reduced by 6% year-over-year, with 722 thousand m³ of water returned to the watershed. $1.4 million invested in communities, including support for Indigenous initiatives, health, safety and youth development. $13.4 million spent with Indigenous suppliers, marking SECURE's continued commitment to supporting our Indigenous partners. WiQ platform expanded, digitizing compliance and waste tracking for enhanced efficiency. New partnerships launched, including Metals4Good with 4-H Alberta and a rewilding initiative with Project Forest on Paul First Nation. Strengthening ESG Integration In 2024, SECURE: Successfully completed our inaugural five-year sustainability strategy, embedding ESG within our operations and culture. Conducted 105 environmental monitoring programs and installed two staged landfill caps, reducing leachate generation. Expanded employee leadership development, launching the SECURE LEADS program and delivering 12 thousand hours of technical and safety training. Achieved 37% percent representation of women in STEM roles, representing a step forward in building a more inclusive and diverse workforce in traditionally under-represented fields. Governance and Transparency ESG performance oversight remains with SECURE's dedicated ESG Committee of the Board, reinforcing its commitment to transparency, continuous improvement, and stakeholder accountability. "Sustainability isn't static. It evolves with our business, our people, and the world around us," added Gransch. "With a strong foundation and clear purpose, we're prepared to lead through the next chapter—operating safely, minimizing environmental impact, enhancing community value, and delivering long-term returns." ABOUT SECURE SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. SECURE's extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, SECURE carries out its principal business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids. The solutions SECURE provides are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment. SECURE's Shares trade under the symbol "SES" and are listed on the TSX. For more information, visit SOURCE SECURE Waste Infrastructure Corp.

S&P/TSX composite ticks higher Thursday morning, U.S. markets mixed
S&P/TSX composite ticks higher Thursday morning, U.S. markets mixed

Winnipeg Free Press

time33 minutes ago

  • Winnipeg Free Press

S&P/TSX composite ticks higher Thursday morning, U.S. markets mixed

TORONTO – Gains in energy stocks helped Canada's main stock index tick higher in late-morning trading on Thursday, while U.S. markets were mixed. The S&P/TSX composite index was up 4.21 points at 27,420.62. In New York, the Dow Jones industrial average was down 129.58 points at 44,880.71. The S&P 500 index was up 17.18 points at 6,376.09, while the Nasdaq composite was up 56.71 points at 21,076.73. The Canadian dollar traded for 73.38 cents US compared with 73.48 cents US on Wednesday. The September crude oil contract was up US$1.08 at US$66.33 per barrel. The August gold contract was down US$22.00 at US$3,375.60 an ounce. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 24, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store