Two Canada-based poultry cooperatives are to join forces, the companies have announced today (3 July).
Quebec-headquartered Exceldor said it has agreed to combine with Maintoba-based Granny’s Poultry Cooperative.
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The deal, struck for an undisclosed sum, will see Exceldor’s sales reach CAD1bn (US$765.2m), it said.
Exceldor already has operations in Manitoba, as well as in its home province of Quebec and assets in Ontario.
“By forging new alliances with business partners with whom we share a common vision and values, Exceldor is becoming a key player across Canada, enabling us to better serve our customers nationally and to generate value for our members, employees, and partners,” Exceldor president and CEO René Proulx said.
The combination means Exceldor has more than 3,450 employees in Canada and is owned by some 400 members.
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By GlobalDataIn a statement, Exceldor added: “The cooperative feels strongly that recent partnerships will allow it to improve its position within an industry that is experiencing marked changes and thus, to become an even stronger and more agile organization in a highly competitive market.”
