Amersfoort, The Netherlands/Okotoks, Canada
Nutreco and Hi-Pro Feeds are pleased to announce an agreement whereby Nutreco will acquire Hi-Pro Feeds, an animal nutrition supplier with operations in Western Canada and Southwest USA. The acquisition is subject to regulatory approval both in Canada and the USA and is expected to close in the second half of 2017 at the latest.
Hi-Pro Feeds is a full-service animal nutrition supplier, supplying complete and specialty feeds, premixes, concentrates and commodity ingredients mainly in Western Canada and Southwest USA. It operates fifteen mills and is headquartered in Okotoks, Alberta. Birch Hill Equity Partners is the current majority owner. They own Hi-Pro Feeds together with the company’s employees, over 80% of whom have invested in the company.
Knut Nesse, CEO of Nutreco: “We consider Hi-Pro Feeds as a very exciting company with a good reputation and solid management. In Canada this acquisition will make us a truly nation-wide animal nutrition company with a good presence in all regions and livestock segments. In the US this deal creates a new base for Nutreco, particularly in the dairy and beef industry in the Southwest.”
Jacques Leclerc, Managing Director of Nutreco Canada: “Hi-Pro Feeds is renowned for its lean, agile and customer-centric operational model. Combined with Nutreco’s innovation strength and nutritional solutions consisting of a wide range of models, products and services, I am confident that we will create extra value for our combined customer base in the whole of Canada.”
Daren Kennett, founder of Hi-Pro Feeds: “In Nutreco we have found a good steward for our business and we are excited about the opportunities that this brings to our customers and employees. As a global company, Nutreco has the resources and network available to create additional value for our customers through an expanded offering of proprietary models, products and services.”
The current leadership team consisting of Daren Kennett, Mark Knief and Jeff Dykstra will continue to manage the Hi-Pro Feeds business in both Canada and the US. The strength of the combined Nutreco and Hi-Pro Feeds’ leadership team will allow current Hi-Pro Feeds CEO, Dean Prevost, to transition his responsibilities over time.
Lazard Middle Market and CIBC Capital Markets acted as advisors to Hi-Pro Feeds.
Nutreco is a global leader in animal nutrition and aqua feed. Nutreco’s advanced feed solutions are at the origin of food for millions of consumers worldwide. Quality, innovation and sustainability are guiding principles, embedded in the Nutreco culture from research and raw material procurement to products and services for livestock farming and aquaculture. Experience across 100 years brings Nutreco a rich heritage of knowledge and expertise for building its future. Its two global company brands Skretting (aqua feed) and Trouw Nutrition (animal nutrition) have sales in over 90 countries. Nutreco Canada – headquartered in Guelph, Ontario – serves its customers from 12 animal feed and premix manufacturing facilities and operates under the brands Landmark Feeds (in West Canada) and Shur-Gain (in East Canada). Nutreco employs approximately 11,000 people in 35 countries with net sales of € 5.7 billion in 2015. It is a wholly owned subsidiary of SHV Holdings N.V., a family-owned multinational with net sales of €18.1 billion in 2015.
About Hi-Pro Feeds
Hi-Pro Feeds is a leading manufacturer and distributor of high performance animal feed in North America. The company network comprises of 15 individual feed mills with operations spanning three U.S. States and three western Canadian provinces serving over 5,000 customers. Over 80% of the employees are shareholders in the company, which means they are truly ‘invested in animal nutrition’ through high quality products and services. The company headquarters are south of Calgary in Okotoks, Alberta.
About Birch Hill Equity Partners
With over $3 billion in capital under management, Birch Hill Equity Partners invests in leading Canadian middle-market businesses. Birch Hill’s team has many years of experience working together as an active partner with top management teams in building long term value. Since 1994, Birch Hill has made 58 investments with 43 now fully realized. www.birchhillequity.com
Mark Woldberg (Nutreco)
Manager Corporate Communications
Office: +31 (0) 33 422 6178 Mobile: +31 (0) 6 1503 3036 Email: email@example.com
Holly Nicoll (Hi-Pro Feeds)
Phone: (403) 995-8302 Fax: (403) 938-8383 Email: Holly.Nicoll@hiprofeeds.com
Pierre Schuurmans (Birch Hill Equity Partners)
Phone: (416) 775-3830 Fax: (416) 775-3859 Email: firstname.lastname@example.org