Canada’s Alliance Grain Traders has acquired Quebec-based retail food packaging company CLIC International.
As part of the acquisition, AGT will take on all of CLIC’s retail brands, which take in products from basmati rice to dry and canned pulses. The former CLIC management team will transfer over to AGT’s Quebec food division.
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AGT primarily buys lentils, peas, beans and chickpeas from growers in Canada, the US, Turkey, Australia, China and South Africa and supplies them to food manufacturers and foodservice customers. Clients include Campbell Soup Co. and Sabra Dipping Co., the dips venture run by PepsiCo and Israel’s Strauss Group.
Murad Al-Katib, AGT’s president and CEO, said the acquisition of CLIC International would expand the company’s existing business down the supply chain. CLIC supplies canned pulse products to customers including convenience outlets, ethnic stores and supermarket food chains.
“Expanding our retail business with this acquisition, combined with the positive improvement that we have reported in our core legacy business, and the significant opportunities we see ahead of us in pulses flour, protein, starch and fibre ingredients, immediately establishes AGT as a player in the North American food ingredient, packaged and retail food industry,” he said. “This transaction is expected to assist in furthering our stated objective of moving AGT up the value chain and solidifying our transition from a commodity exporter to a food company.”
AGT chairman Huseyin Arsalan added the company is “optimistic about the potential sales and revenue streams” from the acquisition. “It may show great potential for growth and return for our company and our shareholders,” Arsalan said.
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