June 25, 2009
Viterra closes purchase of canola crush operation
Press Release
Viterra Inc. has concluded its purchase of the assets of Associated Proteins LP (APLP) in Ste. Agathe, Manitoba.
The acquisition includes a canola crush plant with a capacity of 1,000 tonnes per day, and with immediate access to major rail lines, is well situated to source raw materials domestically and supply North American healthy vegetable oil markets.
"This purchase strategically positions Viterra to meet increased domestic crush demand," said Karl Gerrand, Senior Vice-President, Food Processing Group. "It is a great opportunity for growers to access new processing markets, enhancing the value of their product."
Under the terms of the Purchase and Sales Agreement, Viterra acquired the assets of APLP for C$64 million (US$55.56 million) plus working capital.
Viterra Inc. is Canada's leading agribusiness, with extensive operations and distribution capabilities across Western Canada, and with operations in the US, Japan, Singapore and Geneva.
