Competition Bureau approves sale of Ontario Butterball maker
Quebec food co-op Exceldor said it will proceed with purchase of Butterball maker P&H Foods
LEVIS, Que.—A Quebec food co-op says it has received approval from the federal Competition Bureau to buy Parrish & Heimbecker, Ltd. (P&H Foods), maker of Butterball-branded turkeys and other food products.
Exceldor Cooperative says it has received approval from the Competition Bureau and will proceed with the acquisition of P&H Foods, which makes Butterball products for the Canadian market under a license agreement with North Carolina-based Butterball LLC.
The deal includes a turkey processing plant in Hanover, Ont., and an investment in another processing plant in Arthur, Ont.
Both plants will continue to make Butterball products for the Canadian market, according to Exceldor, which said the new unit will operate under the name Exceldor Foods Ltd.
“The Competition Bureau’s authorization was the last step necessary to finalizing the purchase of P&H Foods. As of today, we are now able to produce and market the entire array of Butterball products in Canada, primarily out of these two plants that were part of the transaction,” René Proulx, president and CEO of Exceldor, said in a statement.
Financial details of the transaction were withheld by the company, but Exceldor said it will have revenues of roughly $625 million after the deal closes.
The transaction is expected to be completed by the third quarter of 2014.