CANADA: Sofina to buy Fearmans Pork from Sun Capital
Canadian company Sofina Foods is set to buy local firm Fearmans Pork from private-equity firm Sun Capital Partners.
Sofina, which sells products under brands including Lilydale, as well as private-label lines, has agreed to buy Fearmans Pork for an undisclosed sum.
Sun Capital acquired Fearmans Pork in 2010 from Maple Leaf Foods. The private-equity firm said it had expanded production and improved hog procurement, leading to a 16% increase in sales in 2011.
"Fearmans Pork has made great strides as a standalone business," Sun Capital co-CEO Marc Leder said yesterday (10 April). "Management has effectively created an infrastructure and stabilised hog procurement, which assures the region's hog farmers that they have a committed and capable partner. Sofina Foods is a natural steward for the next stage of its growth."
Canadian food manufacturer Maple Leaf Foods has booked a drop in first-half profits....
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