Maple Leaf Foods completes spinoff into Canada Packers

Executive Summary

• Maple Leaf Foods Inc. has completed the spin‑off of its pork operations into a newly independent public company, Canada Packers Inc., with shares beginning to trade on the Toronto Stock Exchange on Oct. 2, 2025 (ticker: CPKR).
• Maple Leaf retains a 16 % ownership stake in Canada Packers and the two companies have entered an evergreen supply agreement that makes Maple Leaf an anchor customer for pork supplied by Canada Packers.
• The spin‑off is positioned as a strategic move to sharpen Maple Leaf’s focus on consumer packaged goods while giving Canada Packers a dedicated platform to grow its sustainable pork business.

Key Details

• Spin‑off Completion: All corporate actions required to separate the pork business have been finalized; Canada Packers will be listed on TSX under “CPKR” effective Oct. 2, 2025.
• Ownership Structure: Maple Leaf Foods retains a 16 % equity interest in Canada Packers (4,758,059 shares acquired). No current plans to further acquire or dispose of Canada Packers securities.
• Supply Agreement: An evergreen supply contract has been executed; Maple Leaf will purchase pork from Canada Packers for its prepared‑meat portfolio, and Canada Packers will count Maple Leaf as an anchor customer.
• Management Statements: Quotes from Curtis Frank (Maple Leaf CEO), Dennis Organ (Canada Packers CEO), and Michael McCain (Executive Chair) emphasize strategic focus, sustainability commitments, and long‑term value creation for shareholders.
• Mailing Delay Notice: Direct registration statements to Canada Packers shareholders may be delayed due to the ongoing Canada Post workers’ strike.
• Early Warning Disclosure: Prior to the spin‑off Maple Leaf held no Canada Packers shares; acquisition of 4.76 M shares (16 % stake) was disclosed in an early‑warning filing now available on SEDAR+.

Notable Quotes

“Maple Leaf Foods took another bold step today…by completing the spinoff of our pork operations.” – Curtis Frank, President & CEO, Maple Leaf Foods
“Today marks a new chapter for Canada Packers as we launch as an independent public company.” – Dennis Organ, President & CEO, Canada Packers
“Maple Leaf Foods and Canada Packers are moving forward today as independent companies…delivering meaningful, long‑term value for all stakeholders.” – Michael McCain, Executive Chair, Maple Leaf Foods

Materiality Assessment: Material – Positive (significant corporate restructuring with strategic implications for both entities).