Sofina Foods Inc. has entered into an agreement to acquire the assets of Exceldor Cooperative, marking a significant development in Canada’s poultry and food processing sector. The deal, outlined in an asset purchase agreement, remains subject to approval from Exceldor’s cooperative members and investment shareholders. A vote is scheduled to take place at Exceldor’s Annual General Meeting on June 5, 2025.
This acquisition is the outcome of an in-depth strategic review and is poised to strengthen both companies’ positions in the Canadian market. With their operations complementing each other geographically and operationally, the transaction aims to maintain Exceldor’s existing business, broaden its reach across Canada, and boost the growth of well-known brands including Exceldor, Lacroix, Granny’s, Butterball, and Saha Halal.
The collaboration is expected to create significant operational efficiencies and open new market opportunities by aligning production capabilities and distribution networks. It also reinforces both companies’ commitment to enhancing Canada’s food security and ensuring long-term value creation for stakeholders.
The agreement outlines a shared vision of sustained growth and operational resilience amid a highly competitive food industry landscape. Consumers will continue to have access to familiar Exceldor and Granny’s products, with a focus on maintaining provincial sourcing and production.
Once approved by Exceldor’s internal stakeholders, the acquisition will also require regulatory clearance from the Competition Bureau.
Legal, financial, and advisory roles for the transaction were filled by various firms. Exceldor was advised by BCF Business Law, PwC Corporate Finance in Québec, and EY for tax guidance. Sofina was supported by Stikeman Elliott LLP on legal matters, PwC for financial and tax advice, and WSP for environmental consulting.
This transaction, once finalized, will mark a new phase of growth and collaboration in the Canadian poultry processing industry.
