U.S. Regulators Clear Maple Leaf Foods’ Acquisition of Field Roast Grain Meat Co.

In November 2017, Maple Leaf Foods Inc., which owns the Lightlife brand as well as other products, agreed to purchase Field Roast Grain Meat Company, SPC. Lightlife and Field Roast are two leading plant-based protein brands in the United States and Canada. A Compass Lexecon team provided economic and econometric analysis in support of the transaction, providing evidence on the lack of significant competition between the merging parties’ brands, the willingness of consumers to substitute not only to other brands but also across product categories and the ease with which retailers can enter the market with their own private label offerings. After engaging with antitrust authorities in the U.S., Maple Leaf Foods obtained full clearance in January 2018. The Washington, DC-based Compass Lexecon team was led by Loren Smith and included Chris Rybak, Gloriana Alvarez, Alex Asancheyev and Paige Kirby. Compass Lexecon worked closely with a legal team from Simpson Thacher & Bartlett LLP that was led by Andrew M. Lacy, Peter C. Herrick and Andrew E. Hasty.