May 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Maple Leaf Foods (TSX: MFI) said that it is launching a formal sale process for its Ontario, Canada pork processing business following renewed interest from potential purchasers and improved economic conditions and credit markets.

The company said it has engaged financial advisors to support the sale process.

Michael Vels, Maple Leaf’s CFO, said, "The sale of the Burlington business will complete the last phase of Maple Leaf's protein transformation journey and supports our commitment to refocus our growth in the value-added meat, meals and bakery business."

The 365,000 square foot Burlington facility is one of the largest pork processing facilities in Canada.

Canada-based Maple Leaf Foods is a food processing company that employs around 23,500 people at its operations across Canada and in the United States, Europe and Asia.

The company posted sales of $5.2 billion in 2009.

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