September 26, 2009
Viterra strengthens retail network; acquires Lakeside Fertiliser
Press Release
Viterra Inc. and XL Foods Inc. have entered into an agreement in which Viterra will acquire the assets of Lakeside Fertiliser (Lakeside), a division of XL Foods and southern Alberta''s largest independent retailer of fertiliser and agricultural chemicals.
The transaction includes six retail outlets in Bow Island, Brooks, Claresholm, Medicine Hat, Taber and Vauxhall, AB. Rabobank International acted as exclusive financial advisor to XL Foods.
"This acquisition allows us to further leverage our logistics and distribution network, ensuring that our customers in southern Alberta have the right products at the right time," said Doug Wonnacott, Viterra''s Senior Vice-President, Agri-products. "It is also consistent with our overall strategy to optimise our retail footprint in Western Canada and increase our market share."
Strategically located in a prime-growing region of Alberta, the sites will allow Viterra to sell inputs for traditional crops, as well as high input specialty crops such as sugar beets and potatoes.
Customers will have access to a full range of agri-products including Viterra''s exclusive line-up of proprietary seed, private label crop protection products, along with a variety of custom services.
The acquisition will increase Viterra''s total number of retail sites to 259 across Western Canada.
Viterra Inc. is a global food ingredients agribusiness headquartered in Canada. The Company has extensive operations and distribution capabilities across Western Canada, as well as in Australia and New Zealand, with Adelaide, Australia being Viterra''s base for its Southeast Asian operations. Viterra also has offices and operations in the US, Japan, Singapore, China, Switzerland, and a joint venture in Ukraine.
XL Foods Inc. is the largest Canadian owned and operated beef processor in Canada. It is part of the Nilsson Bros. Group of companies, which are a diverse agri-business that is involved in all facets of beef and cattle production, marketing and processing. XL Foods Inc. operates facilities in Alberta, Saskatchewan, Nebraska and Idaho.