Manitoba-based pork producer and processor HyLife is expanding its processing capacity with the acquisition of a slaughter plant in the U.S.
The company says it is partnering with Glen Taylor, and purchasing a 75 per cent equity stake in Prime Pork LLC from the Taylor Corporation.
Prime Pork operates a recently-renovated processing plant at Windom, Minnesota, which has capacity to process around 1.2 million pigs annually.
Together with its current facility at Neepawa, Manitoba, HyLife will now have processing capacity of 3.2 million hogs each year.
“Prime Pork will allow us to expand our operations into the United States,” notes Grant Lazaruk, HyLife’s President and CEO. “Plants in both Canada and the U.S. will strengthen our supply chain, giving us further diversity in our operations to better serve our customers around the world.”
Founded by Glen Taylor in 2016, Prime Pork operates out of the former PM Beef Plant in Windom, employing around 660 people.
“I have been really pleased with the start-up of Prime Pork in Windom,” says Taylor. “With this new partner and leadership, I am confident this partnership will be great for the community, employees and area producers. Prime Pork’s location in southern Minnesota provides an abundance of resources, securing hog supply and the other raw materials required to operate a processing facility efficiently.”
Taylor Corporation’s holdings are primarily in the printing business, but also include a variety of agricultural businesses, as well as the NBA’s Minnesota Timberwolves and WNBA’s Minnesota Lynx, and the Star Tribune newspaper.
Earlier this month, HyLife announced the purchase of one of Canada’s largest independent hog farming operations. The company acquired the majority of ProVista Agriculture’s hog production facilities and transportation equipment, including 37 thousand sows and barns that employ around 250 people in Manitoba and southeast Saskatchewan.
Founded and headquartered in La Broquerie, Man., HyLife received an injection of capital last year when Charoen Pokphand Foods of Thailand purchased 50.1 percent ownership for C$498 million. The other 49.9 percent was already owned by ITOCHU of Japan.
Financial terms of the Prime Pork deal have not been disclosed.