Pork giant Olymel takes over southern Alberta hog producer Pinnacle Farms
by The Canadian Press
Quebec-based firm to take over 30-person hog operation outside Calgary; cost of acquisition not being disclosed
STRATHMORE, Alta.—One of Canada’s largest pork companies has taken over southern Alberta hog producer Pinnacle Farms.
Olymel L.P says it becomes the owner of all Pinnacle’s assets, which include quarantine, sow, nursery and finishing barns.
It also takes over management of the operation near Strathmore, east of Calgary.
The cost of the acquisition is not being disclosed.
Pinnacle, which employs 30 people, has been supplying finishing hogs to Olymel for more than four years.
The pork giant says its goal is to produce more than 1.5 million hogs annually in Western Canada by 2020 to meet a growing demand from customers.
Olymel has a processing plant in Red Deer, Alta., with more than 1,500 workers.
The company employs almost 11,500 people, including more than 8,000 in Quebec, and has large facilities in Ontario, Alberta, New Brunswick and Saskatchewan.
It exports nearly one-third of its total sales to more than 65 countries, but mainly to the United States, Japan and Australia. Annual sales are pegged at $3.2 billion.
The company markets its products mainly under the Olymel, Lafleur and Flamingo brands.
