Maple Leaf grows veg meat portfolio

Maple Leaf Foods is buying Field Roast Grain Meat Co. for US$120 million, plus related costs.

Field Roast is a leading brand of premium grain-based “meat” and vegan cheese products, with sales of about $38 million.

“The acquisition of Field Roast complements and expands our portfolio in the fast-growing North American market for alternative proteins,” said Michael McCain, president and chief executive officer, in a release.

Field Roast employs about 200 at its plant in Seattle, Washington.

It makes fresh and frozen grain-based roasts and loaves, sausages and frankfurters, burgers, deli slices and appetizers, and Chao brand vegan cheese slices and entrees.

The deal will be financed with cash-on-hand and existing credit .

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