SASKATOON (Staff) – Heartland Livestock Services, the amalgamated livestock company of Saskatchewan Wheat Pool and Manitoba Pool Elevators, has taken over its first auction market.
Heartland has bought the Burnt Lake Auction Mart Ltd. in Red Deer, Alta., which handles more than 120,000 head of livestock each year.
The company will own 40 percent of the auction market in the first year and eventually have full ownership after four years.
The Red Deer auction market is ideally located, said Barry Senft, SWP second vice-president.
With more than a million cattle in the area, it’s a prime location for the company to expand its livestock gathering base, he said.
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“It’s an extension of our initiative to join with other pools to broaden our base into the three provinces,” said Senft.
The Saskatchewan pool has been working with the auction market for two years, providing satellite-selling services and feeder finance. The auction market will continue to operate under the current name, with the same management and staff.
“It’s the same people doing the same jobs. But the broader base of the new company will allow us to continually improve the quality and quantity of livestock marketing services that we offer to producers,” said Leroy Larsen, SWP president, in a news release announcing the company’s new name, Heartland.
The recent purchase will bring the total number of marketing centres for Heartland to 15.
It owns 10 in Saskatchewan and two in Manitoba. It is a partner with one in Saskatchewan and two in Alberta.
