Competition Bureau approves La Coop federee purchase of Quebec pork processor
Source Canadian Manufacturing
Quebec's largest agri-food company, La Coop federee, says the
Competition Bureau of Canada has given the green light to its
acquisition of the pork and milling assets of F. Menard.
The deal announced July 9 would add a company that processes more
than 1.1 million hogs annually representing more than 15% of Quebec's
The transaction, whose purchase price hasn't been disclosed, is
expected to close Jan. 6. It includes hog farms, pork processing and
further processing plants, two specialized butcher shops and a transport
fleet, as well as two mills.
F. Menard employs more than 1,200 people.
Executive director Luc Menard said the purchase by the co-operative
and its Olymel and Sollio Agriculture divisions represents the best
solution for the continued growth of the company that his family has run
for nearly 60 years.
The agreement continues a long-term trend of consolidation in
Canada's pork sector, the seventh largest in the world and the
third-largest exporter, according to the Agriculture Department.
"This acquisition strengthens our ability to compete with world-class
companies and consolidate our position in domestic and international
markets," said Ghislain Gervais, president of La Coop federee.