Animal feed company Masterfeeds has signed a deal to buy the Ontario feed business of Land O’Lakes Canada and two Growmark feed mills.
Masterfeeds, which is based in London, Ont. and runs 13 feed plants in Ontario, Alberta, Saskatchewan and Quebec, expects to close this deal by June 2.
Land O’Lakes Canada (LOLC) was formed in 2006 from the Ontario feed division of the U.S. ag co-op Land O’Lakes and from Hutton Farm Supplies, a unit of the Agronomy Co. of Canada (which in turn is owned by Land O’Lakes and CHS Inc.).
Headquartered in Guelph, LOLC’s holdings include Ontario plants in Peterborough, Wingham, Mitchell and Wellburn and a swine sales centre in Wellburn.
Under the deal, Masterfeeds will also buy two feed mills in Wingham and Peterborough that were leased by LOLC from Growmark, another major U.S. ag co-operative.
Masterfeeds will then serve the Ontario Growmark member co-operatives that LOLC previously served from those two facilities.
Terms of the deal weren’t released, other than that they include licensing agreements giving Masterfeeds continued use of certain Land O’Lakes feed brands and access to certain future brands and feed technologies developed by Land O’Lakes Purina Feeds.
Masterfeeds is owned by Ag Processing Inc. (AGP), another U.S. ag co-operative based in Omaha. AGP’s members include almost 200 local-level co-ops in the U.S. and Canada.