Through this deal, La Coop fédérée's agri-business division will extend its animal nutrition activities that are already well established in Québec and the Maritimes.
The division is also already present in Western Canada, in the crop production sector through its network of Agrico retailers, while La Coop fédérée's meat processing division Olymel is active in swine production in Alberta and Saskatchewan through its subsidiary Olysky and in Alberta through its pork processing activities. U.S.-based Standard Nutrition assets and activities are excluded from the transaction.
The conditions of the sale will not be disclosed. The transaction is final and all operations are now integrated within the livestock production sector, of La Coop fédérée's Agri-business Division.
"For the past decade, working under the Standard Nutrition USA umbrella has allowed our company to become an integral part of the Western Canadian protein supply chain, recognized for its extremely high-touch, consultative sales approach that leverages the technical and operational expertise of our best-in-class team of nutrition consultants" explains Jason McNaughton, president and general manager of Standard Nutrition Canada. "Partnering with La Coop fédérée, a true Canadian Ag Industry powerhouse, is now the occasion to kick-start our growth plan for the decade to come, with the mutual goal of supporting Canadian agricultural producers," he adds.
"Standard Nutrition's top-of-the-line products and service are at par with our high standards in terms of quality and customer relationship. We also share the same values when it comes to responsibility and solidarity toward the producers that we serve, in order to tailor our service to their needs. Furthermore, their strong presence in Alberta, Saskatchewan and Manitoba makes them a partner of choice to pursue our growth plan in Canada. We believe that by combining the findings from our world-class research program to Standard Nutrition's personalized approach and highest level of expertise, we will deliver even more value and innovation to our customers," adds Sébastien Léveillé, executive agri-business vice-president of La Coop fédérée.
The transition will be seamless for current Standard Nutrition Canada customers as key management and sales teams will remain in position.
Establishments included in the sale are:
- Feed processing and grain-handling facilities and retail store in Winnipeg, Manitoba
- Retail store and warehouse in Brandon, Manitoba
- Premix facility, warehouse and retail store in Lethbridge, Alberta
- Retail stores, offices and warehouses in Red Deer, AB, and Swiftcurrent, SK.
- Lazard Middle Market acted as the exclusive financial advisor to Standard Nutrition Canada.