"This loan allows us to invest in the modernization of our Toronto plant that has been processing Ontario hogs for over 50 years," commented David Schwartz, president of Quality Meat Packers. "We will enhance food safety and traceability, improve plant efficiency, and reduce operating costs through the purchase of value-added equipment."
The combined operations will supply retail and foodservice customers across Canada and into the U.S. with 15 primary and further processing operations in British Columbia, Alberta, Saskatchewan, Ontario and Washington State, the release said.
Sofina Foods to acquire Fearmans Pork Inc. Sofina Foods Inc. and Sun Capital Partners Inc., a leading private investment firm, are pleased to announce the companies have signed a definitive agreement under which Sofina will acquire 100 percent of Fearmans Pork Inc. Terms of the transaction were not disclosed. The transaction is expected to close shortly after required regulatory approvals are received, upon which Fearmans will become a wholly owned subsidiary of Sofina.
Associations merge to form NAMA The executive committees of the North American Meat Processors Association (NAMP) and the National Meat Association (NMA) unveiled the official logo for North American Meat Association (NAMA), the new merged organization scheduled to take effect July 1. The image emphasizes the group's North American membership and scope of work; while a three-word tag line - regulatory, education, partnership - highlights what NAMA will offer members.
Michael Latifi, Sofina Chairman and CEO stated, "This acquisition provides Sofina with secure access to high quality raw materials that will allow us to grow our fresh meat markets and build and sustain our further processed protein business." "Fearmans Pork has made great strides as a standalone business," said Marc Leder, Co-CEO at Sun Capital Partners. "Management has effectively created an infrastructure and stabilized hog procurement, which assures the region's hog farmers that they have a committed and capable partner. Sofina Foods is a natural steward for the next stage of its growth."
Barry Carpenter of NMA will become the CEO of NAMA, and Phil Kimball of NAMP will become the organization's Executive Director.
Sofina Foods to acquire Italian deli meat company Sofina Foods Inc., of Markham, Ont., will acquire Brampton, Ont. based Santa Maria Foods, a leader in specialty Italian-style deli meat and imported grocery products. "This acquisition not only allows Sofina to bring prominent brands into the Sofina family but also strengthen our capabilities in further processed proteins," Sofina chairman and CEO Michael Latifi stated in a release. "We are very excited to be joining the Sofina Foods organization," added Fred Jaques, CEO of Santa Maria Foods. "The history and success of our specialty Italian food business is a great fit with Sofina Foods' growth strategy, and we are proud to be part of the family." 27
BLOCKtalk - Summer 2012
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