Olymel and Sollio Agriculture Acquire Pork and Milling Sectors From F. Ménard

Management of La Coop fédérée, its Olymel and Sollio Agriculture divisions and F. Ménard announced today an agreement to acquire all the assets of Ange-Gardien company F. Ménard, in Montérégie, Quebec

A family business that was founded almost 60 years ago by Fulgence Ménard and is still run by members of his family, F. Ménard is a leader in the Quebec pork sector. The fully integrated company employs over 1,200 people and its activities range from genetics to marketing, by way of animal feed, breeding, slaughtering, and primary and further processing. The company has an annual production of over 1.1 million hogs reared in over 300 farms, which represents 15% of all Quebec production.

“La Coop fédérée is proud to participate in this agreement that will enable F. Ménard, a leader in Quebec agri-food production, to pursue its development within Olymel and Sollio Agriculture,” said Ghislain Gervais, President of La Coop fédérée’s Executive Committee. “Olymel has all the resources and expertise to help F. Ménard grow, take its expertise further and leverage the growth resulting from this agreement to compete even more effectively with world-class companies in all markets.”

“This acquisition is another step in Olymel’s growth”

 

F. Ménard is also involved in the poultry production sector, but these activities are not part of the agreement.

This agreement, for which the amount will not be disclosed, is subject to approval by the Competition Bureau. Until then, the companies involved in this agreement will continue their usual activities independently and will make no comments beyond those contained in this press release.

F. Ménard’s Executive Director, Luc Ménard, said his family cares deeply about the longevity of the company and its family traditions. “I am confident that all our employees, suppliers and customers will benefit from the new momentum created by this agreement.”

This agreement includes the acquisition of hog farms owned by F. Ménard, a pork slaughtering, cutting and deboning plant located in Ange-Gardien, a pork product facility in St-Jean-sur-Richelieu, a further processing plant specialized in bacon production in Henryville, as well as a large transportation fleet, and finally two specialized butcher shops. The Ange-Gardien slaughtering and cutting plant has a weekly slaughter capacity of 25,000 hogs on one shift. The Henryville further processing plant has been in operation since 2011 and covers an area of 70,000 square feet. All these assets will be managed by Olymel L.P.

Milling sector activities

This agreement also includes major milling operations with annual production in excess of 500,000 tonnes. These assets include two mills located in Saint-Pie-de-Bagot and Ange-Gardien, as well as grain storage and drying facilities in Sainte-Brigide-d’Iberville.

“This acquisition is another step in Olymel’s growth,” added Réjean Nadeau, President and CEO of Olymel L.P. “I would like to tell the members of the Ménard family, all the company’s employees and its suppliers that Olymel will build on this legacy. Together, we will take advantage of new synergies and increased capabilities to offer our customers and consumers high-quality products and excellent service,”

Source: CNW