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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Maple Leaf Foods Inc.    MFI   CA5649051078

MAPLE LEAF FOODS INC.

(MFI)
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Maple Leaf Foods : Field Roast's Chao Creamery Expands Dairy-Free Cheese Portfolio With Five New Varieties

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09/15/2020 | 09:05am EDT

Maker of #1 selling plant-based cheese item in the US rolls out new slice flavors, plus all-new cheese blocks and shreds, available now at more than 1,000 Walmart locations

Greenleaf Foods, SPC, owner of leading plant-based brand Field Roast Grain Meat Co™ (“Field Roast”), announced today that its Chao Creamery dairy-free cheese line is expanding. In addition to new plant-based slice flavors like Smoked Original Slices and Spicy Original Slices, Chao Creamery now delivers a Creamy Original Block, Creamy Original Shreds and Mexican Style Blend Shreds.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200915005360/en/

In addition to new plant-based slice flavors like Smoked Original Slices and Spicy Original Slices, Chao Creamery now delivers a Creamy Original Block, Creamy Original Shreds and Mexican Style Blend Shreds. (Photo: Business Wire)

In addition to new plant-based slice flavors like Smoked Original Slices and Spicy Original Slices, Chao Creamery now delivers a Creamy Original Block, Creamy Original Shreds and Mexican Style Blend Shreds. (Photo: Business Wire)

“We took the fan-favorite Chao Creamery Creamy Original and expanded it into new flavors and forms that give consumers even more flavor potential in the kitchen,” said Dan Curtin, President of Greenleaf Foods. “These products are unlike anything else that exists in the dairy-free cheese category. It’s a taste that only Chao can deliver!”

The pace of growth in the plant-based cheese category has been growing significantly in recent years, with a future potential of $1.69B.1 Unlike other plant-based cheese products that mimic popular mainstream dairy cheese flavors like cheddar, mozzarella and American, Chao products are coconut-based and made with a special fermented tofu ingredient that provides an unmatched buttery, umami bite.

Field Roast’s Chao Creamery Creamy Original is the #1 selling plant-based cheese slice variety in U.S retail, growing 30 percent year-over-year.2 The new Chao varieties include:

  • Chao Smoked Original Slices – Chao Creamery’s Smoked Original Slices have the sharp bite and smooth texture you love in our Creamy Original Slices with a smoky finish that will take your next sandwich to a whole new level.
  • Chao Spicy Original Slices – Chao Creamery’s Spicy Original Slices have a hint of sharp jalapeño and a creamy texture that melts like a dream.
  • Chao Creamy Original Block – Chao Creamery’s Creamy Original Block has a sharp, savory bite and a creamy texture, making it a delicious addition to any meal.
  • Chao Creamy Original Shreds - A tasty dairy-free addition to any dish, hot or cold. Sprinkle onto your salad, melt into your plant-based omelet, or just eat it straight out of the pouch!
  • Chao Mexican Style Blend Shreds – Chao Creamery's Mexican Style Blend Shreds combine our Creamy Original and Tomato Cayenne shreds to create a sharp, cheesy flavor with a nice kick of spice.

In the coming weeks, the new Chao Creamy Original Shreds will start rolling onto shelves at more than 1,000 Walmart locations and will be available at Kehe and UNFI. Meijer, Hannaford, Food Lion and other U.S. retailers are expected to start carrying the items later this year, with an estimated retail price of $5.99. Prices may vary by location.

For more information on Field Roast, visit fieldroast.com and follow @FieldRoast on Facebook, Instagram and YouTube.

About Greenleaf Foods, SPC

Greenleaf Foods, SPC, is transforming plant-based protein with a wide array of delicious and innovative products that satisfy consumers interested in adding protein variety to their diets. Our leading brands include Lightlife® (“Lightlife”) and Field Roast Grain Meat Co.™ (“Field Roast”). Together, these brands are delighting loyal, longtime fans and enticing new ones who never knew plant-based protein could taste so good. The Lightlife and Field Roast portfolios feature nearly 50 products and represent a leading market position in the refrigerated, plant-based protein category in the U.S. Greenleaf Foods, SPC is a wholly owned, independent subsidiary of Maple Leaf Foods Inc. (TSX:MFI).

1 Source: IRI Total US MULO L52wks End 2/23/20, SPINS Total US MULO+Natural|L52wks end 2/23/20​

2 Source: SPINS Total US MULO+Natural L52wkd end 8/9/20

© Business Wire 2020

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Financials
Sales 2020 4 275 M 3 204 M 3 204 M
Net income 2020 122 M 91,4 M 91,4 M
Net Debt 2020 963 M 722 M 722 M
P/E ratio 2020 -
Yield 2020 2,63%
Capitalization 2 996 M 2 243 M 2 245 M
EV / Sales 2020 0,93x
EV / Sales 2021 0,94x
Nbr of Employees 13 500
Free-Float 60,0%
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Mean consensus BUY
Number of Analysts 8
Average target price 34,13 CAD
Last Close Price 24,36 CAD
Spread / Highest target 84,7%
Spread / Average Target 40,1%
Spread / Lowest Target 10,8%
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Managers
NameTitle
Michael H. McCain Co-President, CEO & Non-Independent Director
Curtis E. Frank Co-President & Chief Operating Officer
William Geoffrey Beattie Chairman
Geert Verellen Chief Financial Officer
Andreas Liris Chief Information Officer
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