Richardson International Limited

Richardson International Limited

July 13, 2010 11:01 ET

Richardson International Acquires North Peace Agro in Manning, AB

Attention: Agriculture Editor, Business/Financial Editor, Media Editor, News Editor WINNIPEG, MANITOBA, ANNOUNCEMENT--(Marketwire - July 13, 2010) - Richardson International Limited ("Richardson") has completed the acquisition of North Peace Agro Service (2007) Ltd. ("North Peace Agro"), a Manning, Alberta-based company specializing in the supply of agriculture inputs.

The acquisition of North Peace Agro is Richardson's third acquisition in the Peace River region in less than six months, following the acquisition of Total Ag Ltd. in February, 2010 and Eco Seeds in April, 2010. As a result of this series of transactions, Richardson now owns and operates facilities in Manning, Fairview, Spirit River and Falher, in addition to its Dunvegan Ag Business Centre in Rycroft, Alberta, which was acquired in 2007 as part of Richardson's acquisition of former Agricore United facilities.

"We are extremely pleased with the addition of the North Peace Agro facility to our Peace River operations," says Darwin Sobkow, Richardson International's Vice-President, Agribusiness Operations. "It will allow us to offer a full range of crop input and grain handling services to customers throughout the Peace River region and adds strength to our Richardson Pioneer network of Ag Business Centres."

Richardson also plans to enhance its Peace River facilities through expansions and improvements, the details of which are being finalized and will be announced in the near future. "Our acquisition of the Dunvegan Ag Business Centre in 2007, followed by the three recent acquisitions, has filled a void that previously existed in our Richardson Pioneer network. We are now able to offer service to customers and source grain and oilseeds from all parts of Western Canada and our future expansions of these newly-acquired facilities will further enhance the strength of our network," adds Sobkow.

Richardson is equally pleased that Willy Hardy, the previous owner-operator of North Peace Agro, will continue to manage the Manning facility and will be assisted in doing so by his existing staff, thereby maintaining the same quality of service that area customers have experienced and grown to expect.

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With canola processing plants in Lethbridge, Alberta, and Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high-quality products and superior service to its customers.
/For further information: Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca
/ IN: AGRICULTURE, ECONOMY, FINANCE

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