Quebec company Préval Ag has completed its purchase of the Alberta lamb processing plant and large feedlot of the defunct North American Lamb Company.
“For us, sourcing locally is essential, and we will therefore be working closely with local producers to expand the marketing of our lamb products in the Canadian market,” Alex Fontaine, president and CEO of Montpak (one of Préval’s divisions) said in a release.
Préval Ag, founded by Fabien Fontaine who was later joined by his brothers Donald and Alexandre, is an emerging powerhouse in the North American food industry. With the acquisition of the Innisfail processing plant and Iron Springs feedlot, the company now has 42 divisions with 1,600 employees and $750 million in annual sales.
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The North American Lamb Company, a joint venture of a New Zealand company and Alberta investors, sought creditor protection last year, owing $53 million to creditors (more than 90 per cent of that to its lenders).
