… Maple Leaf Foods aims to exceed $280 million in sales of its plant-based products by next year. In 2020, the company will open the largest plant-based protein factory in the U.S. in Shelbyville, Indiana…
Vegan Protein Is Helping This Meat Giant Make $1 Billion
Maple Leaf Foods, a major Canadian packaged meats company that owns Lightlife and Field Roast, said that vegan protein has helped it make $1.02 billion.
Jemima Webber, Live Kindly
August 11, 2019
Major Canadian packaged meats company Maple Leaf Foods recently revealed that its revenue reached $1.02 billion, up $909.2 million from last year. Sales were driven in part by vegan protein.
Maple Leaf Foods credited this rise, as well as the 12.5 percent increase in second-quarter sales, to acquisitions and the continued double-digit growth of its plant-based protein products. The packaged meats company bought two plant-based brands — Field Roast Grain Meat and Lightlife Foods — in late 2017.
Maple Leaf Foods chief executive Michael McCain said that the company is working toward a major place in the vegan protein scene. “We have materially stepped up our game as a leader in the plant-based protein market, positioning us to win in this high-growth business,” he said in a statement.
The Value of Vegan Meat
Maple Leaf Foods aims to exceed $280 million in sales of its plant-based products by next year. In 2020, the company will open the largest plant-based protein factory in the U.S. in Shelbyville, Indiana. The 30,000-square-foot facility will more than double production capacity for both brands.
The company believes Lightlife’s burger will...
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