Viterra says acquisition to strengthen food processing presence

Related tags Canada

Viterra has said its takeover of a Manitoba canola crusher will boost its position in the domestic food processing industry.

The Canadian company announced that its proposals to acquire the assets of Associated Proteins LP for $56m (C$64m) would increase its canola oil production capacity by up to 1,000 tonnes a day.

The Canadian Competition Authority is expected to announce its decision on whether to approve the deal by June 25.

Chief executive Mayo Schmidt said: “This acquisition is an ideal fit for Viterra. It bolsters our presence in food processing and complements our position as Canada's leading canola exporter. It is consistent with our overall strategy to grow our company's value-added capabilities."

The company said it was expecting significant growth for canola oil as a replacement for soy oil in food applications.

Related news

Related products

Enhance Food Safety with the Interceptor DF

Enhance Food Safety with the Interceptor DF

Content provided by Fortress Technology, Inc. | 04-Mar-2024 | Product Presentation

Tackling the unique challenges faced by confectionery manufacturers, the Interceptor DF metal detector surpasses all other systems on the market in identifying...

New Study: 2023 Productivity Benchmark Report

New Study: 2023 Productivity Benchmark Report

Content provided by QAD Redzone | 13-Oct-2023 | White Paper

On average, manufacturers in this QAD Redzone exclusive study achieved productivity increases that allowed them to make 5 days of product in just 4 days....

Follow us


View more