Quebec-based firm buys Alberta lamb production company near Lethbridge
By COLLIN GALLANT on February 1, 2023.
cgallant@medicinehatnews.com@CollinGallant A Quebec-based agri-food company has acquired a struggling Alberta lamb production company promising it will bolster the brands. Preval AG announced Monday it will become owner and operator of the North American Lamb Company, including Canada Gold breeding and feeder facility in Iron Springs, northeast of Lethbridge, and a processor in Innisfail. The former company entered into court creditors protection process during a sales process in August with more than $52 million owed to Farm Credit Canada, the Scotiabank and New Zealand-based SunGold. “We are proud to welcome what are now Westfine Meats Inc. and West Excelamb Inc. to our diversified family of companies,” said Alex Fontaine, the president of Montpak, a subsidiary of Preval AG. “We are fortunate to be acquiring world-class operations that will deliver the same high standard of quality on which Preval AG has built its reputation.” The terms were undisclosed. The acquisition gives Preval 1,600 employees and the firm expects additional sales to raise operating revenue above $750 million per year. The move to Western Canada is a first for the company, which has operations in Quebec, the United States and South America. “We are all looking forward to working with the existing team and combining our expertise acquired over the years to promote the quality of Canadian lamb products under the SunGold, Lamb Tonight and Famille Fontaine brands,” said Stephane Beausoliel, the new manager of the Innisfail processing plant. 9-8
