WINNIPEG – The head of James Richardson and Sons Ltd. says its agricultural operations, including Pioneer Grain, will not be affected by last week’s sale of Richardson Greenshields of Canada Ltd.
The securities company was sold to RBC Dominion Securities, a division of the Royal Bank, for $480 million.
George Richardson said his company’s agricultural holdings had very little to do with the securities company.
“It won’t have any ramifications other than that the parent company will be well-financed as a result of it,” Richardson said. He would not elaborate on whether his company will seek to expand its agricultural operations.
“We’ll have time to look around and see what there is to do,” he said.
The Richardson family has been involved in agriculture in Western Canada since 1883.
Aside from Pioneer Grain, it owns grain terminals in Vancouver and Thunder Bay, an elevator at Sorel, Que., Top Notch Grains in Ontario and a fertilizer company and feed business in B.C.
The Richardson family owned 70 percent of Richardson Greenshields, while employees owned the balance.
