Maple Leaf Foods has agreed to buy Canadian hog production firm Puratone, a deal the food group said would provide a “consistent supply” to its value-added meats business.
The C$42m transaction includes livestock, facilities and interests in some joint ventures. The transaction is expected to close within a month, subject to court and regulatory approval.
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Puratone operates about 50 barns in the province of Manitoba in proximity to Maple Leaf’s Brandon plant and produces around 500,000 hogs a year. Puratone also runs three feed mills that support the hog production.
If the deal goes through, Maple Leaf said it would will own approximately 30% of its hog supply into Brandon and produce around 1.2m hogs annually.
