Canadian poultry cooperative Exceldor has reached a deal to acquire a majority stake of Lacroix Meats, a family-owned processor of value-added meat and poultry products.
The proposed transaction is pending authorization by the Competition Bureau of Canada.
Lacroix Meats, founded in 1985 by Michel Lacroix, has about CA$145 million in sales and 450 employees. Since its inception, Lacroix Meats has grown substantially over the past 10 years, rising to a Canadian leadership position in the development of value-added and ready-to-cook products that are primarily sold under private labels by major food retailers, according to a press release. Lacroix operates mainly in the poultry sector, and has a 65,000 square foot facility in Saint-Hyacinthe, Quebec.
Lacroix Meats will maintain its corporate identity and will continue to be managed independently by the current executive team of Maxime Lacroix, president; Michael Lacroix, executive vice president; and Glenn Cardoso, vice president of operations.
“We are very excited to partner with Lacroix and associate with a family who shares common values and a company that has enjoyed outstanding growth, paralleling our own, in recent years,” said Exceldor President and CEO René Proulx. The business opportunities this partnership entails gives us every reason to look forward to even more impressive growth in jobs and sales in the future. This partnership demonstrates our cooperative’s vitality and our ability to generate value for our clients, employees and members.
“We are extremely proud of the road our company has traveled since its creation. This partnership with Exceldor, a major home-grown organization, fits in naturally with our values and represents a unique opportunity for our clients, employees and company. We will not only be able to maintain our growth, but also accelerate our investments into our know-how and product development to open new markets and continue to offer our clients the best possible service,” Maxime and Michael Lacroix said in a statement.
Exceldor, according the the WATTAgNet Top Poultry Companies Database, is a 260-member cooperative specializing in the marketing of fresh chicken and turkey. In 2014, it acquired P&H Foods. It also co-owns three other businesses in the Canadian poultry sector: Unidindon, Giannone Poultry and Golden Valley Farms.
