La Coop fédérée, Olymel and its Sollio Agriculture divisions announced plans to acquire F. Ménard, a Canada-based pork processor.
The fully integrated company employs over 1,200 people, and its activities range from genetics to marketing, by way of animal feed, breeding, slaughtering and primary and further processing.
This agreement includes the acquisition of hog farms owned by F. Ménard, a pork slaughtering, cutting and deboning plant in Ange-Gardien, a pork product facility in St-Jean-sur-Richelieu, a further processing plant specialized in bacon production in Henryville, a large transportation fleet and two specialized butcher shops. F. Ménard’s poultry production sector is not part of the acquisition.
The Ange-Gardien slaughtering and cutting plant delivers a weekly slaughter capacity of 25,000 hogs on one shift. The Henryville further processing plant has been in operation since 2011, and covers an area of 70,000 square feet. All assets will be managed by Olymel L.P., Canada.
This agreement also includes major milling operations with annual production in excess of 500,000 tons. These assets include two mills located in Saint-Pie-de-Bagot and Ange-Gardien, as well as grain storage and drying facilities in Sainte-Brigide-d’Iberville.
“La Coop fédérée is proud to participate in this agreement that will enable F. Ménard, a leader in Quebec agri-food production, to pursue its development within Olymel and Sollio Agriculture. Olymel has all the resources and expertise to help F. Ménard grow, take its expertise further and leverage the growth resulting from this agreement to compete even more effectively with world-class companies in all markets,” says Ghislain Gervais, president of La Coop fédérée’s executive committee.
“After long strategic reflection, the decision to sell the company proved to be the best solution to ensure a promising future for F. Ménard,” adds Luc Ménard, executive director of F. Ménard. “We have come to the decision we are announcing to you today with the preservation and development of what we have built over the past six decades and the interest and future of our employees in mind. A Canadian buyer such as La Coop fédérée and its Olymel and Sollio Agriculture divisions was an obvious choice for the company’s future. This buyer with deep roots in Quebec has a growing presence in Canada and unique experience with agri-food processing and related markets, here and around the world. I am confident that all our employees, suppliers and customers will benefit from the new momentum created by this agreement. I intend to continue the work accomplished at F. Ménard in our new company in order to ensure a smooth transition and the success of this new chapter in our history.”
“This acquisition is another step in Olymel’s growth. I see this agreement as a union of two passionate companies joining forces to better face increasingly fierce competition, especially in international markets. F. Ménard is a company with a strong reputation. I would like to tell the members of the Ménard family, all the company’s employees and its suppliers that Olymel will build on this legacy. Together, we will take advantage of new synergies and increased capabilities to offer our customers and consumers high-quality products and excellent service,” adds Réjean Nadeau, president and CEO of Olymel L.P.
“F. Ménard’s expertise and employees will be invaluable in positioning Sollio Agriculture’s milling activities and strengthening our leadership role in the marketing of agricultural inputs in Canada,” says Sébastien Léveillé, chief executive officer of Sollio Agriculture.