This Report Is an Analysis of the Following Two Firms Saputo Inc (sap) and Maple Leaf Foods Inc. (mfi).

Table of Contents

Executive Summary        2

1.Industry and Company Overview        3

1.1 Industry Overview        3

1.2 Company Overview        4

2. Common Size Statement Analysis        6

3. Ratio Analysis        8

4. Conclusion        10

Appendix 1: Basic Overview of the Dairy Industry        11

Appendix 3: PESTLE Analysis        13

Appendix 4: SWOT Analysis        14

Appendix 5: Competitors        15

Appendix 6: Screen Shots of the Annual Report        17

6a. Maple Leaf Food Inc Balance Sheet        17

6b. Maple Leaf Food Inc Income Statement        18

6c. Saputo Inc Balance Sheet        19

6d. Saputo Inc Income Statement        20

Appendix 7: Common Size Statements        21

7a. Maple Leaf Food Inc Balance Sheet        21

7b. Maple Leaf Food Inc Income Statement        22

7c. Saputo Inc Balance Sheet        23

7d. Saputo Inc Income Statement        24

Appendix 8: Financial Ratio Analysis        25

8a. Maple Leaf Foods Inc Ratio Calculation        25

8b. Saputo Inc Ratio Calculation        29

Executive Summary

This report is an analysis of the following two firms Saputo Inc (SAP) and Maple Leaf Foods Inc. (MFI).  These two firms operate in different industries, Saputo operated in the dairy industry and Maple Leaf Foods operates in the meat/protein industry. However, they are impacted by similar economic issues. These economic concerns are the change in consumer preferences, trade agreements with other countries, supply management and the changes in the foreign currency exchange rates. While these two firms are both in the mature stages of the business cycles and any future growth is to occur externally opposed to organically they are using different acquisitions strategies from one another.