MAPLE LEAF BUYS SCHNEIDER
By Adnews Staff
Maple Leaf Foods of Toronto has formed an agreement to acquire Schneider of Kitchener, ON from Smithfield Foods, based in Smithfield, VA, for CDN$515 million. The deal is expected to close by the end of the year or early 2004. Schneider specializes in packaged processed meats, poultry and grocery products. "Our vision is to create the world's premier consumer foods company by building on the strength of both organizations," said Michael McCain, president and CEO of Maple Leaf Foods.
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