Seaboard Special Crops

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Above Food Corp., the parent company of Purely Canada Foods Corp., has acquired the Avonlea, Saskatchewan commodity cleaning and processing facility assets from Seaboard Special Crops

Industry:

Agriculture

Above Food Corp., the parent company of Purely Canada Foods Corp., has acquired the Avonlea, Saskatchewan commodity cleaning and processing facility assets from Seaboard Special Crops. MNP Corporate Finance Inc. acted as exclusive financial advisor to Seaboard Special Crops in structuring and negotiating this transaction.

Transaction Brief

The Avonlea, Saskatchewan cleaning and processing facilities are known for handling and storing high-quality specialty crops and commodities. The acquisition of the Avonlea facility adds to Above Food Corp.'s ("Above Food") already scaled custody in plant proteins with the capacity to process, package, and store plant protein ingredients. The Avonlea facility also delivers immediate accretive revenue and has the infrastructure and assets required to accelerate Above Food's involvement in pulse ingredients.

Seaboard Corporation ("Seaboard") is a global agribusiness company in grain and protein-based foods with an integrated model. Seaboard has milling and processing facilities located throughout North America, South America, the Caribbean, and Africa that work directly with several affiliated commodity trading offices in strategic locations. Vertical integration of procurement, transportation, and processing functions provides Seaboard with competitive advantages.

Above Food is a plant-based food and beverage company that has complete chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing. Above Food delivers food to businesses and consumers with traceability, quantifiable sustainability, and high levels of nutrient density.

Founded in 2016, Purely Canada Foods Corp. ("Purely") is a B2B plant protein company that supplies whole foods and ingredients sourced in Western Canada to customers around the world. With the acquisition of the Avonlea special crops processing facility, Purely has expanded their growing footprint in Western Canada.