Latest news with #SofinaFoods
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Exceldor Cooperative receives the support of its members to move forward
LÉVIS, QC, June 5, 2025 /CNW/ – Exceldor Cooperative announces that its members and holders of investment shares have approved – by 96,8% – the asset purchase agreement signed on May 14, 2025, with Sofina Foods. The votes was held today during the Annual and Special Meeting of Members, as well as the Meeting of Holders of Investment Shares. This outcome marks a pivotal milestone in the ongoing process leading to the acquisition of Exceldor Cooperative's assets by Sofina Foods, a major Canadian company. This will help ensure the continuity of the Cooperative's existing operations, strengthen its national presence, and drive the growth of iconic brands—such as Exceldor, Lacroix, Granny's, Butterball, and Saha Halal—across Canada. Over the past few weeks, several information meetings were held with members in Quebec and Manitoba to present the details of the agreement and support them to make an informed decision. As part of the regulatory steps involved in such a transaction, it will now be submitted to the Competition Bureau for approval. Exceldor Cooperative is pursuing the process with rigor and transparency and will continue to keep all interested parties informed of any developments. Exceldor cooperative retained the law firm Fasken LLP as legal advisor for the process surrounding the meetings and vote. TSX Trust Company provided independent oversight of the voting process. About Exceldor Cooperative Exceldor Cooperative, owned by approximately 330 member-producers in Quebec, Ontario and Manitoba, generates more than $1.4 billion in revenue and employs over 3,700 people. Headquartered in Lévis, Quebec, its operations are spread across facilities in Saint-Anselme, Saint-Damase, Saint-Hyacinthe, Saint-Bruno-de-Montarville, Beloeil, and Saint-Cuthbert in Quebec, as well as Hanover in Ontario, and Winnipeg and Blumenort in Manitoba. The cooperative is also co-owner of Unidindon in Quebec and Blumenort Hatchery in Manitoba. For more information, visit:
Yahoo
5 days ago
- Business
- Yahoo
Exceldor Cooperative receives the support of its members to move forward
LÉVIS, QC, June 5, 2025 /CNW/ - Exceldor Cooperative announces that its members and holders of investment shares have approved – by 96,8% - the asset purchase agreement signed on May 14, 2025, with Sofina Foods. The votes was held today during the Annual and Special Meeting of Members, as well as the Meeting of Holders of Investment Shares. This outcome marks a pivotal milestone in the ongoing process leading to the acquisition of Exceldor Cooperative's assets by Sofina Foods, a major Canadian company. This will help ensure the continuity of the Cooperative's existing operations, strengthen its national presence, and drive the growth of iconic brands—such as Exceldor, Lacroix, Granny's, Butterball, and Saha Halal—across Canada. Over the past few weeks, several information meetings were held with members in Quebec and Manitoba to present the details of the agreement and support them to make an informed decision. As part of the regulatory steps involved in such a transaction, it will now be submitted to the Competition Bureau for approval. Exceldor Cooperative is pursuing the process with rigor and transparency and will continue to keep all interested parties informed of any developments. Exceldor cooperative retained the law firm Fasken LLP as legal advisor for the process surrounding the meetings and vote. TSX Trust Company provided independent oversight of the voting process. About Exceldor Cooperative Exceldor Cooperative, owned by approximately 330 member-producers in Quebec, Ontario and Manitoba, generates more than $1.4 billion in revenue and employs over 3,700 people. Headquartered in Lévis, Quebec, its operations are spread across facilities in Saint-Anselme, Saint-Damase, Saint-Hyacinthe, Saint-Bruno-de-Montarville, Beloeil, and Saint-Cuthbert in Quebec, as well as Hanover in Ontario, and Winnipeg and Blumenort in Manitoba. The cooperative is also co-owner of Unidindon in Quebec and Blumenort Hatchery in Manitoba. For more information, visit: SOURCE Exceldor cooperative View original content to download multimedia:
Cision Canada
5 days ago
- Business
- Cision Canada
Exceldor Cooperative receives the support of its members to move forward
LÉVIS, QC, June 5, 2025 /CNW/ - Exceldor Cooperative announces that its members and holders of investment shares have approved – by 96,8% - the asset purchase agreement signed on May 14, 2025, with Sofina Foods. The votes was held today during the Annual and Special Meeting of Members, as well as the Meeting of Holders of Investment Shares. This outcome marks a pivotal milestone in the ongoing process leading to the acquisition of Exceldor Cooperative's assets by Sofina Foods, a major Canadian company. This will help ensure the continuity of the Cooperative's existing operations, strengthen its national presence, and drive the growth of iconic brands—such as Exceldor, Lacroix, Granny's, Butterball, and Saha Halal—across Canada. Over the past few weeks, several information meetings were held with members in Quebec and Manitoba to present the details of the agreement and support them to make an informed decision. As part of the regulatory steps involved in such a transaction, it will now be submitted to the Competition Bureau for approval. Exceldor Cooperative is pursuing the process with rigor and transparency and will continue to keep all interested parties informed of any developments. Exceldor cooperative retained the law firm Fasken LLP as legal advisor for the process surrounding the meetings and vote. TSX Trust Company provided independent oversight of the voting process. About Exceldor Cooperative Exceldor Cooperative, owned by approximately 330 member-producers in Quebec, Ontario and Manitoba, generates more than $1.4 billion in revenue and employs over 3,700 people. Headquartered in Lévis, Quebec, its operations are spread across facilities in Saint-Anselme, Saint-Damase, Saint-Hyacinthe, Saint-Bruno-de-Montarville, Beloeil, and Saint-Cuthbert in Quebec, as well as Hanover in Ontario, and Winnipeg and Blumenort in Manitoba. The cooperative is also co-owner of Unidindon in Quebec and Blumenort Hatchery in Manitoba.
Yahoo
17-05-2025
- Business
- Yahoo
Sofina Foods to buy poultry cooperative Exceldor
Major meat-and-seafood supplier Sofina Foods has signed a deal to acquire Quebec-based poultry cooperative Exceldor. The financial terms of the transaction were not disclosed. In a statement, Exceldor said the deal will 'ensure the continuity' of its current operations, 'strengthen' its nationwide footprint and 'accelerate the growth' of its brands, including Exceldor, Lacroix and Granny's. Exceldor also holds the Canadian licence to the Butterball brand. The cooperative added the acquisition's 'operational synergies and complementary geographical markets' will enable Exceldor and Sofina to lay the "foundation for a new chapter – focused on growth, long-term value creation, and the reinforcement of Canada's food sovereignty'. According to Michael Latifi, founder, chairman and CEO of Sofina Foods, the deal is in line with the company's 'desire to continue investing in the Canadian poultry industry, in plants and capabilities, to better serve Canadian consumers from coast to coast'. Exceldor, owned by approximately 330 poultry producers across Quebec, Ontario, and Manitoba, employs 3,700 people and generates an annual revenue of C$1.4bn ($1bn). The cooperative is also a co-owner of Unidindon in Quebec and Blumenort Hatchery in Manitoba. Pending approval from Exceldor's members and investment shareholders at a 5 June meeting, the transaction also requires the clearance of Canadian competition officials. Exceldor president and CEO René Proulx said the agreement is a 'unique opportunity'. In addition to ensuring the 'long-term legacy of generations of producers and employees' who built the cooperative, it 'gives us the tools to strengthen our operations and create new opportunities' for them, Proulx added. Sofina Foods, based in Markham, Ontario, is a privately held company with a diverse product portfolio. Its Canadian brands include Cuddy, Lilydale, and Janes. Internationally, Sofina Foods operates more than 40 locations and has more than 13,000 employees, generating over C$6.5bn in revenue. Its European brands include Young's Seafood, Karro, and Bloors. "Sofina Foods to buy poultry cooperative Exceldor " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
