Maple Leaf Foods Inc. called 2018 a challenging year with essentially flat sales, but one that sets it up for a successful future as it touted itself as a leader in plant-protein products.
Global trading relationships created unprecedented volatility that reverberated across the pork industry, said Michael McCain during a conference call with analysts Thursday after the company released its fourth-quarter financial report.
He outlined the company's accomplishments including growing its raised-without-antibiotics meat portfolio, completing several strategic acquisitions and announcing the construction of a new poultry facility. In January, the company launched a new pea-protein Lightlife burger, first with American food service companies. U.S. grocery stores will start to stock the product in late March, while the Canadian launch won't take place until April.
When Maple Leaf acquired Lightlife Foods and Field Roast Grain Meat Co. in 2017 and 2018 respectively, the category was growing between 10 and 13 per cent, McCain said.
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