Menu Foods Income Fund

Menu Foods Income Fund

March 16, 2010 12:19 ET

Menu Foods Income Fund Retains BMO Capital Markets to Evaluate Strategic Options

TORONTO, ONTARIO--(Marketwire - March 16, 2010) -

Attention Business/Financial Editors:

Menu Foods Income Fund (the "Fund") (TSX:MEW.UN) announced today that it has retained BMO Capital Markets as its exclusive financial advisor to assist the Fund in evaluating alternatives to maximize unitholder value. Those alternatives may include a sale of all or a portion of the Fund's assets or a sale of the Fund itself. While the Board of Directors of the Fund's administrator (the "Board") and the management team periodically review various value maximization initiatives, they have decided to formalize and accelerate this process in response to the Canadian Federal Government's intention to begin to tax income trusts in 2011. The Strategic Alternatives Committee of the Board will supervise this process and make recommendations to the Board.

The evaluation of strategic alternatives is expected to require a period of several months and there can be no assurance that any particular alternative will be pursued or that any transaction will occur.

About Menu Foods Income Fund

The Fund is the indirect owner of Menu Foods Limited ("Menu"), a leading North American private-label/contract-manufacturer of wet pet food products. The Fund's results include those of Menu, its subsidiaries, affiliates and the partnership which conduct its day-to-day business.

Contact Information

  • Menu Foods GenPar Limited
    C. Ian Ross
    Chairman of the Board
    (905) 826-3870 Ext 211