Maggie's Farm

Canada's Menu Foods Income Fund (TSE: MEW.UN) is a major North American contract manufacturer of "wet" pet foods which are sold under a variety of brand names including Iams.

Their recalls have been in the news, as have the the animal death and illness resulting from contaminants in the rice or wheat gluten imported from China.

The only importer whose name I have heard mentioned is the Denver-based Wilbur-Ellis, a large agricultural and chemical company which sold the Chinese product to Menu Foods. My guess is that someone in China added material to the gluten to give it the appearance of containing a higher amount of protein than it did.

Many lawyers will make money on suits between the involved companies, and in class action suits like this one.

One shrewd investor has told me that Menu Foods is an excellent business, and could be a buy around its current depressed price.