Maple Leaf Foods has international food giants circling with interests to snatch up the food maker in a possible takeover.
That is according to a Globe and Mail report, that cited “sources” saying that as the food sector consolidates, the Toronto food maker garnered interest from Smithfield Food, the largest hog producer in the world.
In May, the Virginia-based company was purchased by China’s Shuanghui International Holdings for $4.7 billion.
Maple Leaf Foods didn’t comment in the report. It is believed global food companies like Kraft, Hormel, Foods Group, and Grupo Bimbo in Mexico are looking to acquire food companies such as Maple Leaf as they expand into emerging markets.
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