October 7, 2013

Maple Leaf's sale of Rothsay to Darling International to close October 28, 2013

Maple Leaf Foods informed that the previously announced sale of Rothsay, its rendering and biodiesel business, to Darling International Inc. has been satisfied and expected to close on October 28th, subject to satisfaction of remaining conditions.

Proceeds from the transaction of approximately US$645 million will initially be used to pay down debt. Upon completion of the prepared meats strategy, management will consider appropriate deployment of excess capital, including reinvesting in its core consumer packaged food businesses or returning excess capital to shareholders.

Rothsay is the leading rendering company in Canada and a leading producer of biodiesel. The business operates six rendering plants located in Manitoba, Ontario, Quebec and Nova Scotia and a biodiesel facility in Quebec. It employs approximately 550 people, who will transition to Darling once the transaction closes. Darling International Inc. is the largest and only publicly traded provider of rendering and bakery residuals recycling solutions to the US food industry.

Maple Leaf Foods Inc. is a leading food company headquartered in Toronto, Canada, and employs approximately 19,500 people at its operations across Canada and in the US, the UK and Asia. The company had sales of US$4.9 billion in 2012.