October 01, 2016 4:51 AM ET

Food Products

Company Overview of McCain Foods Limited

Company Overview

McCain Foods Limited produces and sells frozen French fries and potato specialties. It offers other food products, including pizza, appetizers, oven meals, ready meals, desserts, and vegetables. The company also engages in seed production and transportation business activities. It provides its products to retailers, quick service restaurants, supermarket freezers, and foodservice outlets worldwide. The company was founded in 1956 and is headquartered in Toronto, Canada.

439 King Street West

Fifth Floor

Toronto, ON M5V 1K4

Canada

Founded in 1956

Phone:

416-955-1700

Fax:

416-955-1750

Key Executives for McCain Foods Limited

Chief Executive Officer, President and Director
Age: 55
Co-Founder and Director
Co-Founder
Chief Financial Officer
Director, Chief Executive Officer of The Day & Ross Transportation Group, President of The Day & Ross Transportation Group
Compensation as of Fiscal Year 2016.

McCain Foods Limited Key Developments

Quorn Reportedly Receives Takeover Offers

Marlow Foods Limited (Quorn) has received takeover offers. Sources close to the matter said that the owner of Quorn has received takeover interest from a range of parties including Monde Nissin Corporation and Wilmar International Limited (SGX:F34). Sources seeking anonymity said that Quorn, owned by Exponent Private Equity LLP, started an auction in early September 2015 with detailed information being sent to a range of potential bidders. One source stated that the first round bids are due in mid of October 2015. The potential sale in the range of about £500 million pounds could be announced as soon as this week. The news report added that DANONE, S. A., McCain Foods Limited, and Kerry Group plc (ISE:KRZ) are also looking at the business. Other companies that had been named as possible suitors for Quorn include Nomad Foods Limited (LSE:NHL) and The WhiteWave Foods Company (NYSE:WWAV). The news report stated that Exponent and Danone declined to comment while Monde Nissin and Wilmar did not respond to requests for comment and McCain was not immediately available.

Nomad Foods, McCain Both Eyeing Quorn

Nomad Foods Limited (LSE:NHL) is interested in taking over Marlow Foods Limited (Quorn). Nomad Foods is expected to face competition from McCain Foods Limited, which is understood to be in early talks about takeover of Quorn. Exponent Private Equity LLP has put Quorn up for sale and formal information packages are expected to be sent out to prospective bidders next week.

McCain Foods Expands its Potato Processing Plant in Smithton

McCain Foods will spend $10 million expanding its potato processing plant in Smithton in Tasmania's north-west. The company will upgrade its storage facility, which will hold up to 55,000 tonnes of potatoes for processing. It will also build a new $1.6 million packing line.

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