REGINA – Alliance Grain Traders Inc. (TSX:AGT) says it has acquired most of the assets of Quebec-based CLIC International Inc., an ethnic and traditional retail food packager and canner and retail and food service distributor.
The cost of the acquisition by Saskatchewan-based Alliance Grain was not disclosed.
Alliance said the assets include inventory, retail packaging and canning production equipment, all CLIC and associated retail brands, retail and food service listings and customer contracts.
CLIC’s management team will remain with AGT’s new Quebec food division, AGT CLIC Foods Inc.
“The acquisition of CLIC bolsters our ingredient and packaged foods business segment, with small packaging and canning lines to distribute a broad line of pulses and ethnic foods to the North American and global retail and food service sectors,” president and CEO Murad Al-Katib said Tuesday in announcing the deal.
“This transaction is expected to assist in furthering our stated objective of moving AGT up the value chain and solidifying our transition from a commodity exporter to a food company,” he added.
Alliance Grain is a processor of value-added pulses, staple foods and ingredients for export and domestic markets as well as a supplier of retail packaged and canned foods to retail and food service sectors.