The merger of two feed businesses will create the second largest feed provider in Canada.
Masterfeeds Inc. and Ridley Inc. announced today that they will merge their commercial livestock and poultry feed and nutrition businesses in Canada.
The new company, with its headquarters in London, Ont., will be called Masterfeeds LP and operate 22 feed manufacturing plants in Canada.
Chief executive officer Rob Flack said the merger would allow the companies to have a more “efficient geographic footprint in Canada.”
“As Canadian meat, milk and egg producers have become fewer, larger and even more sophisticated, it has bee obvious for some time that the feed industry in Canada would benefit from a similar transformation,” said Flack.
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Masterfeeds is a wholly owned subsidiary of AG Processing, a farmer owned co-operative from Omaha, Nebraska.
Ridley’s Canadian feed business, Feed-Rite, has operated in Canada for 74 years and was acquired by Ridley 20 years ago.
Masterfeeds Inc. and Ridley Inc. will contribute all of their Canadian feed operating assets in exchange for relative shareholdings in Masterfeeds LP. The merger is expected to take place in 30 to 45 days.
