Maple Leaf Foods has announced it wants to buy Manitoba hog producer Puratone Corp. for $42 million.
The deal would include livestock, facilities and interests in some joint ventures.
“This acquisition will ensure a consistent supply of hogs to our processing facility in Brandon, which is an integral supplier to our value added, prepared meats and pork business,” said CEO Michael H. McCain in a release.
Puratone operates about 50 barns and produces 500,000 pigs annually. The business also includes three feed mills.
The acquisition would secure about 30 percent of supply into Brandon for Maple Leaf.
The deal is expected to close within a month, subject to court approval. Puratone has been under court protection from creditors since mid-September.
