Maple Leaf Foods Mourns the Passing of Chairman, Wallace McCain

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May 14, 2011, 10:30 ET

TORONTO, May 14 /PRNewswire/ - The Board of Directors of Maple Leaf Foods (MFI:TSX) today announced with great sadness the death of its Chairman Wallace McCain, who passed away at the age of 81 after a lengthy struggle with pancreatic cancer.

"Wallace made an indelible impact on Maple Leaf Foods, our country and the food industry globally," said Purdy Crawford, lead director of the Maple Leaf Foods Board of Directors. "He had a rare gift for business that was driven by his personal courage, love of people, and sharp insights. His incredible accomplishments came about because of his perseverance, humility and belief in others. Wallace's efforts to support his community, and those less fortunate, were tireless. He was an extraordinary man, with a huge heart, and we will miss him profoundly."

Chairman of Maple Leaf Foods, and co-founder and vice chairman of McCain Foods Wallace was a pioneer of the Canadian food industry. With his brother Harrison, Wallace co-founded McCain Foods in 1956 and built it into a multi-billion dollar global French fry and frozen foods company. In 1995, the McCain family, together with a financial partner, acquired a controlling interest in Maple Leaf Foods and transformed it into Canada's largest bakery and prepared meats company. Maple Leaf Foods has 21,000 employees at operations across Canada, the United States, the United Kingdom and in Asia.

Michael McCain, CEO of Maple Leaf Foods said, "Wallace McCain was an inspiration, as a father, businessman and humanitarian. His incredible success in business was always balanced with the importance of family and community. He had unwavering values that defined him and everything he did. My family and the entire Maple Leaf community deeply mourn his passing, but also celebrate his life and the contribution he made to so many people."

Wallace is survived by his wife Margaret, his four children and nine grandchildren. Funeral arrangements will be announced by the family. For further information, please visit www.wallacemccaintribute.ca.

Wallace's successor as Chairman will be determined by the Maple Leaf Foods Board of Directors.

Maple Leaf Foods Inc. is a leading food processing company, headquartered in Toronto, Canada. The Company employs approximately 21,000 people at its operations across Canada and in the United States, the United Kingdom, and Asia. The Company had sales of $5.0 billion in 2010.

G. Wallace F. McCain
1930 - 2011

Born in Florenceville, New Brunswick in 1930
Wallace was the youngest child of Andrew (A.D.) and Laura McCain's six children
A.D. owned and operated McCain Produce, a potato seed export company
Wallace received a Bachelor of Arts from Mount Allison University in 1951
Began his career in 1951 as a Salesman for Green Grass Insecticides
In 1955, Wallace married Margaret Norrie
Wallace worked until 1956 as a General Manager at Thorne's Hardware Ltd.
Wallace and Harrison wanted to start their own business and brother Robert suggested they consider frozen foods
Founded McCain Foods Limited in 1956 by Wallace and Harrison with investments by their brothers Robert and Andrew
McCain's first frozen French fry plant started up in 1957 in Florenceville, NB
In the first year, the plant employed 30 people, produced 1,500 lbs of product/hour and earned sales of $152,678
McCain Foods expanded its frozen potato product to the U.K., Australia and the U.S. in the 1960s
In the 1970s, McCain opened its first prepared foods plant (Florenceville)
Additional plants opened internationally in the Netherlands, Germany, Australia, Canada, the U.S. and the U.K.
In 1976, McCain began producing frozen pizza
Juice plants and numerous other plants opened or were acquired expanding the business into vegetable, fish, and potato-based animal foods in the 1980s
Acquisitions defined the 1990s, along with millions of dollars in facility upgrades and expansions, including the purchase of the Ore-Ida Food Service frozen French fry and appetizer business in 1997
In 1995, the McCain family, together with a financial partner, acquired a controlling interest in Maple Leaf Foods. Wallace was appointed Chairman of the Board.
He was made an Officer of the Order of Canada in 1995 and promoted to Companion in 2008
Awarded the Order of New Brunswick in 2003
Brother and McCain Foods co-founder, Harrison McCain, died in 2004

Honorary Degrees and Awards

Mount Allison University (LL.D. in 1973)
University of King's College (D.C.L. in 1987)
University of New Brunswick (D.Litt. in 2002)
Dalhousie University (LL.D. in 2007)
Trent University (B.Ed. in 2007)
University of Toronto (LL.D. in 2007)
St Francis Xavier University (LL.D. in 2011)
Knight of the Golden Pencil Award, Toronto, 1988
Gary Wright Humanitarian Award from Friends of We Care Inc., 1992
Honorary Life Member, Potato Association of America, 1992
Canadian Business Hall of Fame, 1993
Officer of the Order of Canada, 1995
New Brunswick Business Hall of Fame, 1997
B'nai Brith Award of Merit, 1999
Honorary Life Member, Association of Professional Engineers and Geoscientists of New Brunswick, 2003
Order of New Brunswick, 2003
Canadian International Executive of the Year, 2003
Induction into the Canadian Manufacturing Hall of Fame, 2006
Ernst & Young Entrepreneur of the Year 2007 Ontario Lifetime Achievement Award
International Horatio Alger Award, 2008
Companion of the Order of Canada, 2008