Our goal is to deliver EBITDA margins of 10% to 12%, consistent with our peers in the global consumer packaged goods industry. We deliver these returns today in our bakery group. We will achieve them in our meat and meals businesses.

Over the past three years, we have restructured our meat operations to not only reduce the impact of commodity markets but also build scale efficiencies. That is enabling us to focus more of our resources on producing higher-margin branded food products that meet the evolving needs of our customers and consumers.

We are building on Maple Leaf’s considerable strengths – dominant brands, leading market shares, innovative products and geographic scale in our core categories and markets – to deliver excellent value to shareholders, driven by clear, forward-thinking strategies that leverage our strengths.