(Reuters) - Maple Leaf Foods plans to separate into two independent public companies, the food processing firm said on Tuesday.

Maple Leaf Foods will retain a 19.9% ownership position in the newly formed Pork Company, and the two companies will enter into an evergreen pork supply agreement, the company said.

Maple Leaf Foods will continue to be led by CEO Curtis Frank, while Dennis Organ will be the CEO of the new company.

The separation plan, which has been approved by the board of directors, is expected to be completed in 2025.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Vijay Kishore)