Two prairie pulse processing icons are combining to form one of the largest pulse and special crops firms in Canada.
Roy Legumex Group of Companies of St. Jean Baptiste, Man., and Walker Seeds Ltd. of Tisdale, Sask., are merging to create Legumex Walker Inc.
The new entity will operate nine pulse and special crops processing facilities located throughout Saskatchewan and Manitoba.
It has 90 years of combined operating history and a network of more than 18,000 growers.
For the 12 months ended Dec. 31, 2010 the company generated $288 million of revenue by selling 400,000 tonnes of pulses and special crops to buyers in 70 countries.
Earnings before interest, taxes, depreciation and amortization for the two companies prior to the merger was a combined $15.3 million.
Legumex Walker Inc. will be venturing outside the pulse and special crops arena with its 85 percent interest in Pacific Coast Canola, a company that is planning to build an 1,100 tonne per day processing facility in Warden, Washington.
The $109.6 million project will produce food grade canola oil for food processors and food service customers and canola meal for livestock and animal feed producers.
Legumex Walker Inc. has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, except Quebec, to pave the way for an initial public offering of its common shares.
A copy of the preliminary prospectus is available on SEDAR (www.sedar.com).
