La Coop Fédérée Acquires the Majority of Assets of Co-op Atlantic's Agricultural Division
Nov 17, 2015, 12:00 ET
MONTREAL, Nov. 17, 2015 /CNW Telbec/ - La Coop fédérée, through its Agri-business Division, would like to announce the signing of a purchase agreement for the majority of Co-op Atlantic's agricultural assets, including feed mills in Moncton, New Brunswick, in Truro and New Minas, Nova Scotia, the Farm Supply and General Merchandising division as well as the sector of activities related to grain marketing. This acquisition is conditional upon a decision from the Competition Bureau. The terms of the transaction will not be made public.
"La Coop fédérée is pursuing an already well-established relationship with Co-op Atlantic and producers in the Maritimes. This will therefore ensure that the tradition of agricultural cooperation with the Atlantic Provinces will be followed," states Denis Richard, President of La Coop fédérée.
"It is clearly good news for La Coop fédérée, but also for the population of the Maritime Provinces. By acquiring the majority of the agricultural assets from Co-op Atlantic, our intention is to continue to operate the activities in the sectors acquired and to offer quality agricultural products and services to the farmers in that region and to all current clients," adds Mr. Richard.
La Coop fédérée would like to make note that during the interval, the usual points of contact will remain the same.
About La Coop fédérée
Founded in 1922, La Coop fédérée is the largest agri-food organization in Quebec. It is owned by more than 100,000 members grouped within 98 cooperatives located in several Canadian provinces and it is present throughout the agri-food chain. As a wholesaler, La Coop fédérée provides farmers with all the goods and services necessary for their operations. Its activities are divided into three sectors: agri-business (livestock and crop productions, and marketing grains under the Elite and La Coop brands), retail and innovation (energy, hardware and farm machinery under the Sonic, Unimat and BMR brands) and meat processing (under the Olymel, Flamingo and Lafleur brands). La Coop fédérée employs 10,000 people and its revenues reach $5.4-billion. Including its affiliated cooperatives, La Coop fédérée has more than 16,000 employees with combined revenues of $9.1-billion. www.lacoop.coop twitter.com/LaCoop_federee.
SOURCE La Coop fédérée
For further information: Source: Ben Marc Diendéré, Senior Vice-President, Communications & Public Affairs, La Coop fédérée; Media contact: Marie-Hélène Cliche, Director of Communications, La Coop fédérée, 514 347-5939 | [email protected]
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