Sofina Foods has agreed to acquire the assets of Exceldor Co-operative for an undisclosed price.

The organizations announced the proposed deal in a news release. The agreement is pending approval by Exceldor’s membters and investment shareholders, who will vote at the poultry co-operative’s annual general meeting on June 5.

The proposed acquisition is expected to preserve Exceldor’s existing operations, expand its national footprint, and drive growth across its brands, including Exceldor, Lacroix, Granny’s, Butterball, and Saha Halal.

“We are entering this next chapter with great enthusiasm,” said René Proulx, president and CEO of Exceldor. “This agreement is a unique opportunity that will enable us to continue our activities in an increasingly competitive environment.”

Exceldor is owned by approximately 330 member-producers across Quebec, Ontario, and Manitoba. Headquartered in Lévis, Quebec, it generates about $1.4 billion in revenue and employs more than 3,700 people. Its operations span multiple facilities in Quebec, Ontario, and Manitoba, including production plants in the Saint-Anselme, Que.; Saint-Damase, Que.; Saint-Bruno-de-Montarville, Que.; Hanover, Ont.; and Blumenort, Man. The co-operative also co-owns Unidindon in Quebec and Blumenort Hatchery in Manitoba.

Sofina’s proposed acquisition by Sofina ensures the long-term legacy of generations of producers and employees who built Exceldor, said Proulx.

“It gives us the tools to strengthen our operations and create new opportunities for our producers and employees,” he said. “It is also important to note that consumers will continue to enjoy high-quality Exceldor-branded products in Quebec and Granny’s-branded products in Manitoba – raised and processed in their respective provinces.”

Toronto-based Sofina has operated for three decades, steadily expanding into one of Canada’s leading food processors.

“This transaction reflects our desire to continue investing in the Canadian poultry industry, in plants and capabilities, to better serve Canadian consumers from coast to coast,” saide Michael Latifi, founder, chairman and CEO of Sofina. “Exceldor is a well-established organization with whom we share a common culture of excellence, discipline and integrity. We look forward to working with Exceldor’s team to further elevate its flagship brands in Quebec and across Canada.”

In addition to needing member and shareholder approval, the transaction will require a review by the Competition Bureau of Canada.

Pictured: Exceldor poultry food-processing facility in Saint-Bruno-de-Montarville, Que.

Photo: Norbec

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