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Maple Leaf Foods Acquires Grace Baking Company to Expand its Artisan Bread Product Line

Toronto, ON –
Maple Leaf Foods, Inc. (TSX :MFI) today
announced that it has acquired the Grace Baking
Company of San Francisco, California, a leading
independent producer of fresh and frozen artisan
bread products. Grace Baking operates from a
manufacturing facility in Richmond, California,
and has annual revenue of about US$18 million.

“Grace Baking brings to Maple Leaf Bakery a
wealth of knowledge, experience and a brand
reputation for producing premium quality artisan
bread products,” said Richard Lan, President and
COO of Maple Leaf’s Bakery Products Group. “The
management and employees of Grace Baking are a
strong addition to our team.”

“This acquisition expands the range of products
that we can offer to our customers, and is
highly complementary to our existing par bake
business. It will allow us to respond to rapidly
growing consumer demand for these high-end
bakery products in both fresh and frozen product
lines,” said Douglas MacFarlane, President of
Maple Leaf Bakery USA.

Grace Baking was founded in 1987 as a retail
bakery and grew into the leading fresh artisan
bread bakery in the San Francisco area. The
company began producing frozen artisan bread
products several years ago, and sells to
national and regional grocers and restaurants.
The company produces nutritious and innovative
products such as Pugliese, Garlic and Potato
Rosemary breads made with all natural

The founders and principal shareholders of the
company, Cindy and Glenn Mitchell and Fred Doar,
will remain to support the growth of the artisan
bread line across Maple Leaf Bakery. Glenn
Mitchell is a graduate of the California
Culinary Academy and one of the few bakers to
have won a Gold Cup at the prestigious Coup de
Monde de la Boulangerie in France.

Maple Leaf Foods, Inc. is a leading Canadian
food processing company committed to delivering
quality food products to consumers around the
world. Headquartered in Toronto, Canada, the
Company employs more than 15,000 people at its
operations across Canada, and in the United
States, Europe and Asia. Maple Leaf Foods Inc.
reported sales of $4.8 billion in 2001.