Maple Leaf re-evaluating plant proteins in light of Q3 sales
LETHBRIDGE, AB. — A year and a half after Maple Leaf Foods announced a plan to expand its plant protein capacity, expected growth at it wholly-owned subsidiary, Greenleaf Foods, appears to have stalled.
On January 11, 2021, Maple Leaf Foods announced Greenleaf Foods, SPC, a leader in plant protein products, was advancing plans to increase tempeh production capacity through the acquisition and planned build-out of a food processing plant in Indianapolis, Indiana.
However, by the second quarter total of 2021, company sales of plant protein producers were up just 5.9% to $1,158.9 million, similar to the performance in the first quarter.
At the time, Maple Leap President and CEO, Michael H. McCain, had an explanation and expected the situation to turn around.