A southern Manitoba grain handler will take on some new partners as the company’s president sells his ownership stake.
Martin Harder, president of Delmar Commodities at Winkler, Man., announced this week he has sold his shares to two other employee shareholders in the company, and the remainder to the shareholders of a Winkler special crops processor, Keystone Grain.
Harder in a statement described the new ownership arrangement as “a true partnership” between some of Delmar’s partners and Keystone’s ownership group.
Previously, an employee shareholder group held a 44 per cent stake in the company, Harder said. Two employees now each receive a three per cent share, bringing the total employee stake to 50 per cent while the Keystone group holds the remaining 50 per cent.
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As of Monday, Harder said, he will be chairman of a joint board of directors and will move into an “advisory role” in Delmar’s operations.
No jobs would be affected as a result, he wrote. “Quite to the contrary this arrangement will allow the company to move forward and continue to grow and expand into areas currently not being served.”
Delmar at the end of October officially picked up the Western Canada distribution rights for corn and soybean seed for South Dakota-based Legend Seeds, a move which Harder said has already led to more hirings and “and will continue to add staff to fill those needs.”
The distribution agreement has already led to an investment in storage bins, shed and seed treatment equipment at the company’s facilities at Jordan Corner, south of Carman.
The deal also led to the expansion of a seed facility at Delmar’s elevator at Gladstone, about 60 km northwest of Portage la Prairie, Harder noted.
Distribution for Legend in Western Canada was previously handled by Quarry Grain, a soybean, corn and sunflower seed firm based at Stonewall, north of Winnipeg.
