The agreement includes two sow barns and two nursery barns with the potential to supply 140,000 pigs.
The company says it expects to invest up to $27 million in the barns over time, including acquisition costs and capital investments.
Maple Leaf Foods says the deal is part of its plan to grow production at its pork processing plant in Brandon, Man.
The acquisition is expected to substantially increase the number of pigs it can produce in Saskatchewan.
The deal is expected to close in June 2022, subject to conditions.