One Earth Farms Corp., a subsidiary of Sprott Resources, has bought Toronto-based Beretta Farms Inc., which sells hormone free and antibiotic free natural and organic branded meat products in Ontario and British Columbia.
The deal involved cash and shares in One Earth Farms, which has partnerships with prairie First Nations operating crop and livestock operations.
The beef business focuses on raising cattle without the use of antibiotics or artificial hormones.
“The Beretta Farms supply chain and consumer brands perfectly complement the One Earth Farms source of beef from our more than 17,000 animal herd of top quality natural and organic cattle,” One Earth Farms chief executive officer Larry Ruud said in a news release.
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Beretta was started 20 years ago and sells its meat products through selected national grocery chains, natural and organic retailers, direct home delivery and a specialty catering operation that provides meals to professional athletes and corporate clients, a Sprott Resources news release said.
The transaction is the first instance of One Earth Farms’ strategy of vertical integration and branded food products, which it expects will help it meet the needs of retailers and consumers while generating increased margins from an integrated supply chain.
Sprott’s ownership share of One Earth Farms will be a little more than 54 percent upon completion of the deal.
