Food processor buys Manitoba hog producer Puratone Corporation
Toronto, Ont. – Maple Leaf Foods is buying Manitoba hog production company Puratone Corporation for $42 million.
Under the agreement Maple Leaf will acquire the producers’ livestock, facilities – including 50 barns and three feed mills – and interests in some joint ventures.
“This acquisition will ensure a consistent supply of hogs to our processing facility in Brandon, which is an integral supplier to our value-added prepared meats and pork business,” explains Maple Leaf president and CEO Michael McCain. The deal means Maple Leaf will have ownership of roughly 30 per cent of its hog supply coming into the Brandon processing facility.
Niverville, Man.-based Puratone is one of the country’s top hog producers, producing approximately 500,000 hogs per year. The agribusiness also includes animal nutrition, farm supply outlets, and agro-environmental research and development.