A Saskatchewan court was expected to approve May 11 an offer to buy Heartland Pork Management Services and seven hog operations.
The deal would make Ivan Stomp’s operation the largest privately owned hog entity in the province and perhaps Western Canada, at 26,000 sows.
Sterling Pork Farm, a subsidiary of Stomp Pork Farms Ltd., submitted an undisclosed offer for the Heartland Pork assets. If approved as expected, the sale will close May 15.
The court must approve the sale because the operations, which were already for sale, sought protection April 13 under the Companies’ Creditors Arrangement Act. Saskatchewan Wheat Pool wholly owns three of the barns, and is a partner in the other four.
Read Also
Agriculture ministers commit to enhancing competitiveness
Canadian ag ministers said they want to ensure farmers, ranchers and processors are competitive through ongoing regulatory reform and business risk management programs that work.
Stomp said May 10 the purchase allows him to expand while skipping some of the steps involved in building new. The barns were built between 1998 and 2000.
“These operations are running very well from a production standpoint,” he said.
The deal also includes a feed mill at North Battleford. Combined with Stomp’s existing mill at Leroy, Sask., the two are well situated to service the larger industry, he said.
Stomp owns 7,500 sows and manages another 1,500, all in the Leroy area.
“I don’t have investors or shareholders,” he said.
The 20-year industry veteran, who three years ago lost 14,000 pigs in a fire, is undeterred by the weak market that has plagued the industry until recently.
The Heartland barns will continue to employ about 160 people, but 10 management jobs in Regina will be lost. The barns are located in Flintoft, Davidson, Cudworth, Carrot River, Perdue, Dinsmore and Neilburg.
