TORONTO, ONTARIO–Maple Leaf Foods Inc. today announced that it has
successfully completed the sale of Country Style Food Services Inc., its
Franchising Operations, to a group including CAI Capital Partners and Company
II, L.P. and Country Style management in a transaction valued at $45 million.
Closing took place as scheduled on May 28, 1999.
A gain on the transaction will be recorded in the second quarter.
The transaction is consistent with the Company’s Core 7 Strategy of focusing on
core businesses and presents growth opportunities for Country Style than can be
more fully realized on a stand-alone basis.
Maple Leaf Foods is a leading global food processor with annual sales of more
than $3 billion. The Company employs approximately 11,000 people