Sun Capital gobbles up Canadian pork plant

The Florida-based firm paid $20m to acquire the pork processing operations of Maple Leaf Foods, Ontario’s largest pork processing business.

Sun Capital Partners has acquired the pork processing operations of Maple Leaf Foods for approximately $20 million.

The plant is Ontario’s largest pork processing facility, and serves the Greater Toronto Area and the US, among other select international markets. The company had sales of $5.2 billion in 2009.

Florida-based Sun acquired the business using capital from its fifth fund, which closed on $6 billion in 2007.

The firm has a number of investments in the food processing industry in Canada and the US, including Toronto-based CanGro Foods, a marketer of canned fruit, vegetables and soup; and Arkansas City-based Creekstone Farms Premium Beef.

Sun invests across a broad spectrum of industries and has completed just over 25 deals this year, split roughly evenly between platform transactions and add-on acquisitions, the firm told PEO. Sun is targeting between 30 and 35 deals this year, roughly the average target amount for the firm prior to the financial crisis.

Recent deals include the purchase of Safety Tubs, a privately held US business specialising in the design and manufacturing of walk-in bathtubs for those with limited mobility, and the acquisition of Captain D’s Seafood Kitchen, the second largest casual seafood chain in the United States.

The firm also has current investments in restaurant chains Boston Market and Friendly’s Ice Cream.