Toronto-based Stake Technology, an operator of high-growth ethical businesses, has agreed to acquire certain assets and the business of Cloud Mountain Inc. and Organic Kitchen Inc.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
These two companies, based in Toronto, form an integrated unit which sources, blends and supplies proprietary organic feeds to organic poultry producers. The companies then partner with organic processors who package chicken and turkey products to mass marketers under their private label or the Organic Kitchen brand.
They are the only major supplier of organic chicken in Canada, a market which is expanding rapidly with the growth in the natural and organic food industry. The company is currently growing 50,000 chickens every eight weeks and intends to expand that by a multiple over the next year. The company also intends to add to the organic meat product lines in response to growing consumer demand.
Under the terms of the acquisition agreement, Stake purchased these assets for cash and 10% of pretax profits through December 2005.
The acquisition of Cloud Mountain and Organic Kitchen continues the strategy of creating a major Canadian organic food company with targeted sales of C$100m (US$64.9m) a year. mu, the organic dairy product line, which was launched in April, was the first step in the process and it is intended that both product lines will be launched across Canada.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
