Media Centre
2010/12/16

Maple Leaf Foods Inc. Announces Closing Of Secondary Offering Of Its Common Shares Held By Ontario Teachers' Pension Plan Board

TORONTO, Dec. 16, 2010 (Canada NewsWire via COMTEX) --

TSX: MFI



www.mapleleaf.com


TORONTO, Dec. 16 /CNW/ - Maple Leaf Foods Inc. ("Maple Leaf" or the "Company") (TSX : MFI) announced today that the previously announced bought deal secondary offering has been completed. Under the offering, the Ontario Teachers' Pension Plan Board ("Teachers'") sold 34,513,155 common shares of the Company held by Teachers' (the "Purchased Shares") to BMO Nesbitt Burns Inc. and TD Securities Inc. for distribution to the public at a price of $10.50 per common share for aggregate gross proceeds to Teachers' of $362,388,127.50. Maple Leaf did not receive any of the proceeds from this offering.


As a result of the completion of this offering, the Company understands that Teachers' no longer holds any common shares or other shares of the Company.


This press release does not constitute an offer to sell or an offer to buy any Purchased Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Purchased Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.


Maple Leaf Foods Inc. is a leading food processing company, headquartered in Toronto, Canada. The Company employs approximately 22,500 people at its operations across Canada and in the United States, the United Kingdom, and Asia. The Company had sales of approximately $5.2 billion in 2009.


SOURCE: Maple Leaf Foods Inc.

Michael Vels, Chief Financial Officer, 416-926-2048


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