U.S.-based Seattle and Turners Falls operations expected to wind down by Q4 2027; consolidation into Indianapolis Plant Protein Centre of Excellence expected to strengthen profitability and position the business for long-term growth

MISSISSAUGA, ON, Sept. 22, 2026 /PRNewswire/ -- Maple Leaf Foods Inc. (TSX: MFI) today announced that it will consolidate its U.S. plant protein production into a single Plant Protein Centre of Excellence at its Indianapolis, Indiana facility and wind down production at its plants in Seattle, Washington and Turners Falls, Massachusetts.

The transition is expected to occur in phases over approximately 12 to 18 months, with targeted completion in Q4 2027.

The decision is part of the Company's Fuel for Growth initiative and follows a review of its plant protein manufacturing footprint. Consolidating production in Indianapolis will create a more efficient manufacturing network, improve capacity utilization, reduce operational complexity and establish a focused Centre of Excellence with the scale and capabilities to support Maple Leaf Foods' plant protein brands more competitively.

"Over the past several years, we have taken significant action to improve the performance of our Plant Protein business, and we have made meaningful progress," said Curtis Frank, President and Chief Executive Officer of Maple Leaf Foods. "But the category has changed significantly, and declining volumes have left our manufacturing network substantially underutilized. Maintaining three facilities at these utilization levels creates structural costs that are not sustainable over the long term."

"Consolidating production in Indianapolis will significantly improve the economics of our manufacturing network and is an important step toward creating a structurally stronger and sustainably profitable Plant Protein business," said Frank. "It also represents another important step in executing our Fuel for Growth plan and delivering our 2030 financial ambitions."

The expected benefits, costs and capital requirements of the consolidation are included in Maple Leaf Foods' previously disclosed 2030 financial outlook.

"This decision does not change our commitment to the plant protein category," Frank continued. "In fact, we believe it strengthens the foundation of the business. Our recent relaunch of Yves Veggie Cuisine is complementary to this strategy, bringing a leading brand and additional volume into our portfolio and helping us create greater scale and improve the economics of our consolidated manufacturing footprint."

Production will continue at the Seattle and Turners Falls facilities during the transition period. The phased approach is intended to maintain business continuity, support customer service and enable an orderly transfer of production to Indianapolis. As production is consolidated, Maple Leaf Foods expects to invest in its Indianapolis facility and add team members to support the expanded scope of operations.

"Our colleagues in Seattle and Turners Falls have made important contributions to our business and have consistently demonstrated tremendous commitment to our customers, consumers and brands," said Frank. "This decision is not a reflection of their performance or the quality of their work. We recognize how difficult this announcement is for them and their communities, and our priority will be to support affected team members with respect, fairness and transparency."

Maple Leaf Foods will work closely with affected team members throughout the transition, providing support and considering opportunities at other Maple Leaf Foods facilities where feasible.

The consolidation is part of Maple Leaf Foods' broader Fuel for Growth initiative and its multi-year strategy to simplify its operations, improve the competitiveness of its manufacturing network and continue to strengthen the structural profitability of the business.

About Maple Leaf Foods Inc.

Maple Leaf Foods (TSX: MFI) is a purpose-driven, protein-focused, brand-led consumer packaged goods company headquartered in Mississauga, Ontario. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf^®, Maple Leaf Prime^®, Maple Leaf Natural Selections^®, Maple Leaf Mighty Protein^™, Musafir^™, Schneiders^®, Mina^® Halal, Greenfield Natural Meat Co.^®, LightLife^®, Field Roast^®, and Yves Veggie Cuisine^®. Committed to Raising the Good in Food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach.

Forward Looking Statements Disclaimer This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgments and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to beliefs, plans, targets, goals, objectives, expectations, anticipations, estimates, and intentions. Often, but not always, forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", or positive or negative variations of such words and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.

These statements are based on, and were developed using, a number of factors and assumptions including, but not limited to: the successful wind down of the Seattle, Washington and Turners Falls, Massachusetts facilities; the successful transfer of production and operations to Indianapolis, Indiana; the successful completion of operational, equipment, facility and commissioning activities substantially in accordance with expected timelines; the ability to transition SKUs and maintain customer service levels during the transition period; realization of expected benefits, efficiencies, cost reductions and profitability improvements from the consolidation; customer and consumer behaviour; expected sales volumes; labour availability and retention; supply chain performance; product quality; regulatory requirements; foreign exchange rates; the ability to manage pricing; dynamics in the competitive environment; and the potential occurrence of unexpected or unforeseen events that could materially alter the Company's current plans. All of these assumptions have been derived from information currently available to the Company including information obtained by the Company from third-party sources. Although these assumptions were considered reasonable by the Company at the time of preparation they may prove to be incorrect in whole or in part. Actual results may differ materially from those expressed, implied or forecast in such forward-looking statements. Factors that could cause actual results to differ materially include, among others, execution and integration risk; changes in consumer demand and market conditions in the plant protein category; the Company's ability to achieve anticipated operational efficiencies and cost reductions; labour availability and retention; customer requirements; supply chain disruptions; regulatory or legal requirements; capital project and operational execution risks; inflationary pressures; foreign exchange fluctuations; and the other risks described in Maple Leaf Foods' public filings available on SEDAR+ and at www.mapleleaffoods.com. Readers are cautioned not to place undue reliance on forward-looking statements, as such statements are not guarantees of future performance.

Additional factors that could cause actual results or outcomes to differ materially from those expressed, implied or forecast by the forward-looking statements are discussed more fully in the Company's filings made with the Canadian securities regulators, including the sections entitled "Risk Factors" in the Company's public disclosure documents available on SEDAR+.

The Company does not intend to, and disclaims any obligation to, update any forward-looking statements (including any financial outlooks), whether written or oral, or whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Maple Leaf Foods Inc.