Exceldor agrees to acquire P&H Foods
summary：Exceldor and Parrish & Heimbecker have reached an agreement under which Exceldor will acquire Canada’s P&H Foods....
Exceldor and Parrish & Heimbecker have reached an agreement under which Exceldor will acquire Canada’s P&H Foods.Financial terms of the transaction have not been disclosed.
The deal includes the primary turkey processing plant located in Hanover, Ontario , and a joint venture interest in Golden Valley Farms comprising a further processing plant located in Arthur, Ontario .
P&H Foods produces and distributes products under the Butterball brand in Canada under a licensing agreement with Butterball.
Exceldor president and chief executive officer René Proulx said that the acquisition of P&H Foods gives the opportunity not only to expand the company's operations outside the Province of Quebec, but also integrate Butterball to its portfolio of existing brands in Canada.
"As a result of this acquisition, Exceldor will have revenues in excess of 625 M$ and its products will be sold across Canada," Proulx added.
Subject to required regulatory approvals, the transaction is expected to close in the third quarter of the current calendar year.