The Globe and Mail reports in its Friday, March 27, edition that Eleanor McCain, owner of an 8.7-per-cent position in McCain Foods Group Inc. (MFGI), filed a claim in the New Brunswick Court of King's Bench this week that details a year-long fight over how much she should receive from the sale of her inheritance.
The Globe's Andrew Willis and Paul Waldie write that MFGI is worth roughly $20-billion.
McCain Foods, the operating business, is owned by MFGI. Ms. McCain has been trying to cash out of MFGI since April, 2025. In her claim, Ms. McCain said her family company is offering to buy her share at a "discounted price that is hundreds of millions of dollars below MFGI's own internal estimates."
In 2010, Michael McCain, the executive chair of Maple Leaf Foods and Wallace McCain's son, sold his family's holding in MFGI as part of his father's estate planning. In the lawsuit, Ms. McCain claims her brother had to sell "at a significant discount."
Mr. McCain declined to comment on the lawsuit.
The McCain family has struggled with the value of stakes in MFGI for 30 years, according to one source close to the family, who said the same sort of disputes take place during succession at many family businesses.
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