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Global frozen foods giant Wallace McCain leaves behind legacy of knowledge
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Monday, 23 May, 2011, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The joy of being world's No. 512 billionaire, as ranked by Forbes magazine this year, was shortlived for Wallace McCain and little did he know that the end awaited him very soon.
Wallace McCain, founder of McCain Foods, world's largest frozen foods company, left the world on May 13, trapped under a terminating ailment. His death left behind a legacy of knowledge for the business world to consume.
The marriage of intellect with adept strategies could effectively make a small business win the globe, was the lesson that life and work of Wallace portrayed to the aspirants of entrepreneurship. The lesson that for once was more real and cogent.
Wallace McCain founded McCain Foods in Canada in 1956, with his brother Harrison.
The brothers' followed the footsteps of their father, who owned a seed potato exporting business in their home town of Florenceville, New Brunswick. They hired around 30 employees at their new plant and sold $152,000 worth of chips in 1957, their first year.
In From the Ground Up, the 2007 book commemorating the 50th anniversary of McCain Foods Limited, Wallace wrote of building the company with brother Harrison:"We were two young guys, eager to have a business we could call our own, eager to succeed. We never really started out with grandiose ambitions. We used to think just might be we could build a business that might make a million dollars. And we never really did it for the money. We just thought business was fun ? it was a game and a challenge. We liked building things, and we loved the people we worked with. That's why we did what we did."
As consumers realised the need for convenience food, the company expanded over a 15-year period into Britain – where it opened its first factory in 1969 – Australia and the United States.
Throughout the '70s, 80s and 90s, McCain guzzled up European and American businesses, venturing into the frozen pizza, vegetable and fish processing markets, as well as the juice business, while increasing its number of plants around the world.
However, in 1994, Wallace McCain was forced out as co-chief executive officer after a public feud with his elder brother about who would take over the company. The courts eventually sided with Harrison, who later went on to name his nephew, Allison McCain, as his successor. Harrison died in 2004. Wallace continued to remain a Board member and held a one-third interest.
The company now operates in 44 countries, including India, and produces more frozen oven-ready chips than any other company in the world.
“By 2002 the chipping plant at McCain's British head office near Scarborough was processing an average of 1,200 tonnes of potatoes each day,” reported the Telegraph.
McCain fries were appraised as being darker and tastier than American imports because they were cooked longer before being frozen.
Also, in 1995, Wallace bought Maple Leaf Foods, a Toronto-based maker of delicatessen meats, bread and other prepared foods. Under his supervision the company grew to more than 21,000 employees, and was now run by his son Michael.
McCain Foods came to India in 1997 when McCain began importing potato products to a country where potato consumption was already well established.
Wallace's death came unwarranted to the McCain kingdom. "We hold Wallace close to our hearts," said Dale Morrison, president and CEO of McCain Foods Limited.
"Wallace was a visionary, a philanthropist and an icon of Canadian business, but to many of us here he was our neighbour, friend, colleague and mentor. His contributions to the success of McCain are immeasurable. He created many opportunities for many people.
We will miss him. The best way I can think of to honour his memory is to continue building on the legacy he left behind. The spirit of our founders will live in all that we do."
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