A court-appointed receiver hopes to sell some of the main assets of Canadian Agra Foods within the next couple of months.
The Ontario-based company was best known in the Prairies for building a canola crushing plant at Ste. Agathe, Man.
Richter and Partners Inc. of Toronto was finishing details last week of how to proceed with the sale of assets once held by Canadian Agra, which was placed in receivership last month after failing to meet a court-imposed deadline to restructure its loans.
The company’s holdings in Western Canada included two crushing plants and a deodorizing plant for canola. It also owned a 17,000 acre farm division and an alfalfa dehydration plant in Ontario.
No prices have yet been attached to the properties. Richter and Partners hopes prices will be determined by competition among prospective buyers.
“We’ve had a lot of inquiries and calls,” said Brahm Rosen, vice-president of the firm. “A lot of people are interested in getting information.”
Canadian Agra Foods reportedly owed close to $29 million to the Bank of Nova Scotia.
