Richardson acquires eastern-Canadian margarine processor
Winnipeg, Man. – Richardson International Ltd. has acquired Innovative Foods Corporation, a Mississauga, Ont.-based margarine and shortening business with facilities in Mississauga and Sussex, N.B.
Richardson International is the country’s largest privately owned agribusiness. As well as marketing all major Canadian grains and oilseeds worldwide, the company researches, develops and processes canola-based oil, margarine and shortening products.
The acquisition of Innovative Foods makes Richardson the only Canadian company producing margarine and shortening at facilities in both Eastern and Western Canada.
According to John Haen, vice-president of Richardson Nutrition, the acquisition will also allow the company to further expand into retail, foodservice and industrial markets, while better serving customers across Canada and the U.S.
The move follows Richardson’s $15-million expansion earlier this year to its Lethbridge, Alta. canola packaging facility.
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