LÉVIS, QC, April 2, 2019 /CNW Telbec/ - Exceldor, a Canadian poultry industry leader, has announced that it is acquiring a majority stake in Lacroix Meats Inc., a family owned meat processing business based in Saint-Hyacinthe (Quebec) operating mainly in the poultry sector.
The company, founded in 1985 by Michel Lacroix and now known as Lacroix, has approximately $145 million in sales and 450 employees. With a dedicated staff and high-quality products, the company has enjoyed exceptional growth over the past ten years, rising to a Canadian leadership position in the development and production of value-added and ready-to-cook meat products, primarily sold under private labels by major food retailers.
Lacroix will maintain its corporate identity and will continue to be managed independently by the executive team comprising Maxime Lacroix (President), Michael Lacroix (Executive Vice President) and Glenn Cardoso (Vice President Operations).
"We are very excited to partner with Lacroix and associate with a family who shares common values and a company that has enjoyed outstanding growth, paralleling our own, in recent years," commented Exceldor President and CEO René Proulx. The business opportunities this partnership entails gives us every reason to look forward to even more impressive growth in jobs and sales in the future. This partnership demonstrates our cooperative's vitality and our ability to generate value for our clients, employees and members.
"We are extremely proud of the road our company has traveled since its creation. This partnership with Exceldor, a major home-grown organization, fits in naturally with our values and represents a unique opportunity for our clients, employees and company. We will not only be able to maintain our growth, but also accelerate our investments into our know-how and product development to open new markets and continue to offer our clients the best possible service," added Maxime and Michael Lacroix.
The transaction is pending authorization by Competition Bureau Canada.
Exceldor is a cooperative whose mission is to produce poultry that people will be proud to serve. Headquartered in Lévis (Quebec), the organization divides production between its Quebec plants in Saint-Anselme, Saint-Damase, Saint-Bruno-de-Montarville and Saint-Agapit as well as in Hanover (Ontario). The cooperative will open a new distribution centre, currently under construction, in Beloeil (Quebec) in 2019.
Exceldor also co-owns three other businesses in the poultry sector: Unidindon and Giannone Poultry in Quebec, and Golden Valley Farms in Ontario. The company markets its products under several brand names, including Exceldor and Butterball. It has over 2350 employees and sales of $750 million.
For more information, please visit www.exceldor.com
Lacroix is a family business specializing in the development and production of value-added and ready-to-cook meat products adapted to the changing needs of today's consumer. Its products are sold under private labels mainly throughout Quebec, Ontario and Atlantic Canada. They are developed in close collaboration with its clients, mostly major food retailers. Founded in 1985, Lacroix has some 450 employees and operates out of a 65,000 sq. ft. facility in Saint-Hyacinthe (Quebec).
For more information, please visit www.viandeslacroix.com
For further information: Exceldor Cooperative, Élodie Fournier, Communications and marketing sector head, Exceldor, 418 830-5600 ext. 4638, [email protected]