Hi-Pro Feeds LP Takes Ownership of Viterra’s North American feed business
Okotoks, AB, April 2, 2012 – Hi-Pro Feeds LP (“Hi-Pro”) has completed customary closing requirements and acquired all of the assets of Viterra’s North American feed business (“the business”), which includes 14 feed mills across Canada and the United States. Hi-Pro is a newlyformed entity owned by the existing management team of the business and Birch Hill Equity Partners (“Birch Hill”). Birch Hill, in partnership with the management team, identified the investment as an opportunity to build a North American leader in livestock feed manufacturing and distribution.
“We are excited about the opportunity to provide the same high level of service and products to our strong customer base across North America while looking for opportunities to meaningfully grow our business,” says Daren Kennett, who will be the Chief Executive Officer of Hi-Pro. “We believe our existing team of dedicated and knowledgeable employees are the best in the industry, and will position Hi-Pro as the leader in this sector.”
Kennett will continue to lead the company along with Ken Teuling, Chief Financial Officer, and the other members of the management team, headquartered in Okotoks, Alberta. “We are proud of what our employees have built together over the past several years, and we are excited to have Birch Hill as our partner as we continue to build a great company,” says Kennett. “We look forward to partnering with the dedicated employees of Hi-Pro to build on their past successes as a leading North American feed manufacturer,” says Stephen Dent, Partner at Birch Hill. “We are very excited to be part of the future growth of this company.”
For more information:
Chief Executive Officer, Hi-Pro Feeds LP
(403) 938 8366
About Birch Hill Equity Partners
With $2.0 billion in capital under management, Birch Hill Equity Partners invests in leading Canadian middle-market businesses. Birch Hill’s team has many years of experience working together as an active partner with top management teams in building long term value. Since 1994, Birch Hill has made more than 50 investments with 30 now fully realized.