Richardson acquires Innovative Foods
By Canadian Packaging StaffGeneral acquisition canola Innovative Foods Corp. margarine Richardson Initernational Ltd. shortening
Deal allows Richardson International to continue its expansion of canola-based oil, margarine and shortening products.
Winnipeg-based Richardson International Ltd. has acquired Innovative Foods Corp., including its Mississauga, Ont. and Sussex, BC-based manufacturing plants growing its involvement into canola-based oil, margarine and shortening products.
Although terms of the acquisition were no released, it is known that Richardson will employ about 60 employees from Innovative.
In an announcement made on October 3, 2011 John Haen, vice-president of Richardson says: “The purchase of Innovative Foods allows us to continue to grow our business in the retail, food service and industrial markets.”
With the addition of Innovation, Richardson is now the only Canadian manufacturer with plants in Eastern and Western Canada producing margarine and shortening. As well, Richardson is Canada’s largest privately-owned agri-business, sending all major Canadian oilseeds and grains across the globe.
The purchase of Innovation comes on the heels of Richardson’s earlier announcement of a $15-million expansion enhancing its canola packaging plant in Lethbridge, Aberta that will enable it better serve , to meet increasing consumer demand for healthier food products. It said it will add a $1.5-million research and development laboratory at the plant.
About Richardson International
Richardson International is Canada’s largest, privately owned agribusiness and has served farmers across the country for more than 150 years. Based in Winnipeg, Richardson has over 1,600 employees across Canada and is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Richardson International offers a world of expertise in grain handling, merchandising, logistics, crop inputs sales as well as oilseed processing and food service packaging. One of Canada’s 50 Best Managed Companies, Richardson is recognized as a global leader in agriculture and food processing. For more information, visit www.richardson.ca.