The new 640,000 square feet facility is expected to be one of the most technologically advanced poultry-processing plants in the world, with cutting-edge food safety, environmental, and animal welfare processes and technologies.

Funding for the project includes a capital investment of approximately $605.5 million from Maple Leaf Foods, an investment of $34.5 million from the Government of Ontario and a $20 million investment from the Government of Canada under the Strategic Innovation Fund.

In addition, the Company is receiving a $8 million loan from the AgriInnovate Fund. As part of the federal funding agreement, Maple Leaf will invest a further $5 million over the next five years on projects that accelerate adoption of advanced manufacturing and production technologies and support the Company's goal to reduce its environmental footprint by 50 percent by 2025.

"This world-class facility will enable Maple Leaf to meet the steadily growing consumer demand for premium, value-added poultry products, and strengthen Canada's food system," said Michael H. McCain, President and CEO.

"It will incorporate leading edge food safety, environmental and animal care technologies that advance our vision to be the global leader in sustainable protein. This is a historic investment in the Canadian poultry sector, providing significant stakeholder and economic benefits and ensuring that Canada has sufficient domestic processing capacity to meet forecasted poultry production and demand."

This strategic investment will deliver a solid return on capital and create significant shareholder value. The project is expected to deliver annual benefits of $105 million to the Company's Adjusted EBITDA on a run-rate basis within 12 months of completing start-up, and by the end of 2023. Based on current sales, adjusted for recent acquisitions, it is estimated this will contribute over 270 basis points to the current Adjusted EBITDA margin.

The project is expected to be accretive to earnings beginning in 2022 and contribute to the Company achieving its Adjusted EBITDA margin target of 14-16 percent.

"This new state-of-the-art facility demonstrates how innovation is creating jobs and helping the environment with more sustainable poultry processing," said The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.