Viterra Inc.

Viterra Inc.

April 28, 2008 13:40 ET

Viterra: Unifeed Hi-Pro Inc. Signs Definitive Purchase and Sale Agreement With Gore's Inc.

REGINA, SASKATCHEWAN--(Marketwire - April 28, 2008) - Viterra Inc. (TSX:VT) is pleased to announce that Unifeed Hi-Pro Inc., a wholly owned subsidiary of Viterra doing business as Hi-Pro Feeds, has signed a definitive purchase and sale agreement for certain assets of Gore Bros., Inc. and Gore's Trucking, Inc. The transaction is expected to close later today. When the transaction closes, Hi-Pro Feeds will operate an additional two feed mills in Clovis, New Mexico and Comanche, Texas. The transaction is subject to normal closing conditions and does not include Gore retail locations.

Funded through current operating cash flows, the total cost of the transaction is approximately US$24.2 million including working capital. The transaction is subject to closing adjustments. After synergies, the Livestock Feed and Services segment EBITDA contribution is expected to increase by approximately 20%.

Viterra Inc. is Canada's leading agribusiness, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed and services, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra Inc.
    Peter Flengeris
    Investor Relations and Corporate Affairs
    (306) 569-4810