Okotoks-based Hi-Pro Feeds is expanding its presence in Alberta, acquiring Champion Feed Services Ltd with its feed mills, stores and oat processing facility.
The deal will add three feed mills to Hi-Pro’s current network of 12 in western Canada and the U.S.
“This extends our business into a broader market, creating a vast network across the entire province of Alberta. Adding the Champion feed mills at Barrhead, Westlock, and Grande Prairie will assist in providing a greater mix of products and services to the customers we serve,” said Daren Kennett, founder of Hi-Pro Feeds in a news release on Monday. Hi-Pro already operates feed mills in Alberta at Lethbridge, Olds, Ponoka, and Sherwood Park.
The Champion Oat Processors plant at Grande Prairie will open new marketing opportunities for Hi-Pro, added Kennett, pointing to demand in Texas, Oklahoma, New Mexico and Arizona for high quality oats.
“We are excited to have a facility that can process, market, and ship double and triple cleaned oats and oat groats to our US and Canadian customers,” he said. “Our customers have been asking for these high-end products, and now we can include them in our offering.”
Gary Golby, owner of Champion Feed Services, noted “Hi-Pro and Champion Feed Services bring together a longstanding entrepreneurial spirit established by deep roots in the community and diverse strengths. Together it makes a great combination for the continued advancement of the agriculture industry in this region of Canada.”
Financial terms of the deal were not disclosed. Champion employees are being offered jobs with Hi-Pro, and the expected closing date for the acquisition is November 2, 2015.
Hi-Pro Feeds was formed in 2012 when Viterra decided to sell its livestock feed operations. Toronto-based Birch Hill Equity Partners and the feed business’ existing management team bought the assets and started Hi-Pro.