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.
READ MORE: Is bacon off the menu for Canadian consumers? Experts say no
Get weekly money news
The cost of the acquisition isn’t 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.
READ MORE: Meat processing company Olymel to cut 340 jobs at plant in Saint-Hyacinthe, Que.
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.
Comments