Maple Leaf Foods has underlined its “confidence in the plant-based category” with its decision to relaunch Yves Veggie Cuisine.
The Canadian meat and plant business has snapped up the discontinued Hain Celestial brand and is preparing to bring it back to the market.
Maple Leaf will launch five products in Canada “this summer,” a company spokesperson said. “This relaunch reflects our confidence in the plant-based category and the continued role Yves will play as an easy, family-friendly option for everyday meals.”
Hain Celestial, which acquired Yves Veggie Cuisine in 2001, said last August it was withdrawing the brand from the market. He said the decision was made “after careful consideration of how we can best focus our efforts to ensure long-term growth across our portfolio of brands.”
Maple Leaf, owner of the plant-based brand Lightlife, acquired Yves Veggie Cuisine earlier this year.
The company is preparing to launch three cut meat alternatives and two ground products “on Canadian shelves.” Just food has asked for details of the stockists.
The spokesperson added: “It’s going to be a great summer full of flavors and products that Canadians have been missing. We’ve been especially careful not to ruin something great.”
Maple Leaf released its first-quarter financial results today (May 7), numbers that included better sales but lower profits.
Sales grew 6.2% to C$962.9 million in the three months to the end of March. Profits fell 7% to C$46.1 million.
Since Maple Leaf spun off its pork assets, the company has two divisions: poultry and prepared foods.
Prepared foods, which include items such as bacon, sliced meats and plant-based proteins, account for 60% of Maple Leaf’s sales.
Maple Leaf said sales at its prepared foods business rose 2.3% in the first quarter, driven in part by pricing. Volumes fell year-over-year due to the timing of promotional activity, reduced B2B sales, foreign exchange and higher business spending.
“Maple Leaf to revive Yves Veggie Cuisine” was originally created and published by Just Food, a brand owned by GlobalData.
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