The meat packing arm of agrifood co-operative La Coop federee is set to boost its stakes in the Ontario packaged chicken and appetizer markets with a deal for Pinty’s Delicious Foods.
Olymel announced Thursday it will buy Burlington, Ont.-based Pinty’s, including its three southern Ontario chicken slaughter and processing operations at Port Colborne, Paris and Oakville, subject to approval from the federal Competition Bureau.
The deal’s financial specifics weren’t disclosed Thursday, but the bureau is generally required to get advance notice of any proposed deal when a target firm’s assets in Canada, or its revenues from sales in or from Canada from said assets, run over $92 million.
Olymel’s CEO, Rejean Nadeau, said Thursday the company “is confident that this transaction will benefit our development and growth.”
The combined processing capacity of Pinty’s three plants runs over 30 million kg per year, Olymel noted, adding the Ontario company booked a 2017 turnover of $235 million.
Pinty’s, Nadeau said, “has developed great expertise on the Canadian and American markets by offering innovative and exclusive products under brand names that have become extremely popular with many consumers and customers.”
Pinty’s products are sold across Canada and in the U.S. under the brands Pinty’s Food Service, Food City, Pinty’s Pub + Grill, Pinty’s Eat Well, Pinty’s Perfect Portions and Pinty’s Delicious Food.
Pinty’s products include cooked chicken wings, burgers, nuggets, strips, fillets, breasts, chunks and tenders. The company also markets its own lines of beef burgers, bottled sauces and kettle potato chips.
Pinty’s Poultry, founded in 1943 by Ed Pintwala, set up Pinty’s Delicious Foods in the 1990s as a joint venture with Port Colborne Poultry, founded by William and Petronella Vanderlaan.
Pinty’s today employs about 360 people, who “will continue to work within the company,” Olymel said, noting both companies “will continue their activities separately and independently” pending regulatory approval.
Jack Vanderlaan, Pinty’s executive chairman, said in the same release that the firm’s owners and management “are happy to have found a Canadian buyer.”
Vanderlaan said he believes Pinty’s staff “will benefit from the advantages of working for a large group like Olymel, a company that has a unique expertise in the processing and marketing of poultry products,” and that the deal “will also benefit our customers and consumers.”
St-Hyacinthe, Que.-based Olymel said the deal goes toward its aim to “consolidate its position in Canada as the leader of the pork and poultry slaughtering and processing sector.”
Olymel last year announced significant expansions and upgrades for several poultry and pork plants it owns in Ontario, Quebec and Alberta, plus a deal to buy the former European Quality Meats plant in Brampton, Ont. for poultry processing. — AGCanada.com Network