Viterra to sell Canadian and US feed mills
Canadian grain handler Viterra has struck a deal with a new company, Hi-Pro Feeds, selling its North American livestock feed operations.
The sale includes six feed mills and one pre-mix manufacturing plant in Canada, and six feed mills and a commodity blending site in the United States.
Viterra said its decision to divest its North American feed business does not include or affect its New Zealand feed assets, but reflects a desire to focus more on its grain handling and processing business.
“The company will continue to look for opportunities to grow its processing portfolio in industries where it can achieve scale and influence and this divestment will allow us to focus our capital on areas of greatest strategic impact,” president and chief executive officer Mayo Schmidt said in a release.
“We are pleased that Hi-Pro intends to maintain continuity for the staff and customers of the livestock feed business going forward,” he added.
The sale is conditional on regulatory approval
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