One of Canada’s largest pulse and special crop processors just got bigger.
Legumex Walker has bought a dry bean processing company in Minnesota and the facilities of a sunflower seed processor in North Dakota and Minnesota for a total of $16.8 million US.
Following the acquisitions, the Winnipeg company will own 11 processing facilities on the Prairies and in the United States.
“This transaction fits extremely well with our strategic objectives,” Legumex Walker president Joel Horn said in a statement.
“It brings us important new relationships with grower communities in Minnesota, North Dakota and South Dakota.”
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Legumex Walker bought the St. Hilaire Seed Co. of Minnesota, a dry bean processor, for $12 million. St. Hilaire employs 35 people and has 45,000 tonnes of capacity, which doubles Legumex Walker’s dry bean capacity.
It also purchased a sunflower seed processor in Mentor, Minn., and two receiving stations in North Dakota from Anderson Seed Co. for $4.8 million. Legumex Walker has created a new division, Legumex Walker Sunflower, to manage its sunflower seed processing.
“We have deep experience in sunflower seed processing that will serve us well in this venture,” Horn said.
Legumex Walker partly financed its purchases through a $12.2 million loan from HSBC Bank Canada.
