Prograin head buys control of soy processor Ceresco


Prograin head buys control of soy processor Ceresco
  1. Prograin head buys control of soy processor Ceresco
    agcanada.com
    A major Quebec processor and exporter of identity-preserved (IP) soybeans for food markets is set to be sold to an investor group including the head of soybean firm Semences Prograin. SG Ceresco, based southwest of Montreal at St-Urbain-Premier, will be sold to a joint venture between Prograin president Alain Letourneau’s…
    Business

A major Quebec processor and exporter of identity-preserved (IP) soybeans for food markets is set to be sold to an investor group including the head of soybean firm Semences Prograin.

SG Ceresco, based southwest of Montreal at St-Urbain-Premier, will be sold to a joint venture between Prograin president Alain Letourneau’s holding company and Transit BD, a holding company owned by well-known Quebec grain industry player Pierre Dagenais, Jefo Nutrition and Beaudier Inc., a Beaudoin family investment firm.

Ceresco processes and exports IP, non-GMO conventional and organic soybeans. Terms of the deal weren’t disclosed in a press release from Letourneau and Transit BD on Wednesday, except that it’s “subject to certain customary closing conditions.”

Letourneau, speaking to the Union des producteurs agricoles’ (UPA’s) news arm, La Terre de chez nous, valued the deal in the “millions” and said his holding company will have a 51 per cent stake in Ceresco.

Transit BD, the 49 per cent shareholder, is also known as a joint venture partner with La Coop federee in CanEst Transit, a container shipping company that cleans, loads and ships ag products at the Port of Montreal.

Ceresco, which started operating in 1987 under the name Semences Gripon and rebranded under its current name in 2001, operates a research farm in Quebec’s Monteregie and a research centre at St-Isidore de Laprairie. It today bills itself as one of the top Canadian exporters of food-grade soybeans.

Ceresco’s co-founder and co-owner, Thierry Gripon, will remain with the company as leader of its international soybean sales team. Its other co-founder and co-owner, Mireille Raymond, will manage the company’s operations “until a new general manager is in place,” Letourneau and Transit BD said.

Ceresco sells soy into Japan, Hong Kong, Malaysia, the Philippines, Singapore,…

  1. Nest Labs adds doorbell that can recognize familiar faces

    Canada.com - Business
    09.20 / 19:57 www.canada.com
    SAN FRANCISCO — Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of…
  2. US stock indexes inch lower following Fed announcement

    Canada.com - Business
    09.20 / 19:57 www.canada.com
    U.S. stocks veered slightly lower in afternoon trading Wednesday as investors sized up the Federal Reserve's latest economic and interest rate policy…
  3. Barrier put in mine that sent toxic water into 3 states

    Canada.com - Business
    09.20 / 19:57 www.canada.com
    DENVER — The U.S. Environmental Protection Agency is installing a barrier and valve inside an inactive Colorado mine to prevent another surge of wastewater like a 2015 blowout that contaminated rivers in three…
  4. Fed announces a start to modestly reducing its bond holdings

    Canada.com - Business
    09.20 / 19:37 www.canada.com
    WASHINGTON — The Federal Reserve will begin shrinking the enormous portfolio of bonds it amassed after the 2008 financial crisis to try to sustain a frail economy. The move reflects a strengthened economy and could mean higher rates on mortgages and other loans over…
  5. CloudGenix Partners with Intelisys to Provide Sales Partners with Best-in-Class SD-WAN

    Cbj.ca - Business
    09.20 / 19:24 cbj.ca
    SAN JOSE, CA–(Marketwired – Sep 20, 2017) – CloudGenix, a leader in Software-Defined Wide Area Networks (SD-WAN), announced that it has become a Supplier Partner with technology-driven master agent Intelisys, a ScanSource company. Intelisys is recognized for their comprehensive portfolio of products and technologies that enable Sales Partners to provide a wealth of powerful and…
  6. Delphi Teams with BlackBerry QNX for Autonomous Driving Operating System Platform

    Cbj.ca - Business
    09.20 / 19:24 cbj.ca
    GILLINGHAM, ENGLAND and WATERLOO, ONTARIO–(Marketwired – Sept. 20, 2017) - Delphi Automotive PLC (NYSE:DLPH), a global leader in autonomous driving technology, announced today it has signed a commercial partnership agreement with BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) to provide the operating system for its autonomous driving system. Delphi and BlackBerry QNX will collaborate to bolster software performance and…
  7. Savaria annonce la nomination d’un nouveau directeur

    Cbj.ca - Business
    09.20 / 19:24 cbj.ca
    LAVAL, QUÉBEC–(Marketwired – 20 sept. 2017) - Savaria Corporation (TSX:SIS) («Savaria» ou la «Société»), un des chefs de file nord-américains de l’industrie de l’accessibilité, est heureuse d’annoncer la nomination de Caroline Bérubé au conseil d’administration de la Société, en vigueur immédiatement. Cette nomination portera à huit le nombre total de membres du conseil, dont cinq…
  8. Savaria Appoints New Director

    Cbj.ca - Business
    09.20 / 19:24 cbj.ca
    LAVAL, QUEBEC–(Marketwired – Sept. 20, 2017) - Savaria Corporation (TSX:SIS) (“Savaria” or the “Corporation”), one of North America’s leaders in the accessibility industry, is pleased to announce the appointment of Caroline Bérubé to the Board of Directors of the Corporation, effective immediately. The appointment expands the Board to eight directors, five of whom are independent.…
  9. Toughen realtor licence renewal testing, says OREA

    Thestar.com - Business
    09.20 / 18:57 www.thestar.com
    The Ontario Real Estate Association wants classroom training and pass/fail exams in continuing…
  10. Amazon ‘reviewing’ its website after suggesting bomb-making ingredients, report says

    Thestar.com - Business
    09.20 / 18:57 www.thestar.com
    A news report said Amazon's algorithms automatically suggested bomb-making items that were “Frequently bought t…
  11. Toys 'R' Us insolvency plans favour overseas suppliers

    Thestar.com - Business
    09.20 / 18:57 www.thestar.com
    Court documents detail Canadian subsidiary’s plans to keep an uninterrupted supply of m…
  12. Labatt Breweries to invest $460M to boost growth

    Thestar.com - Business
    09.20 / 18:57 www.thestar.com
    Canadian brewer investing in new technology and equipment to meet the growing demand for craft beer and…
  13. PotashCorp temporarily cutting production at potash mines to balance output

    Canada.com - Business
    09.20 / 18:56 www.canada.com
    SASKATOON — Potash Corporation of Saskatchewan Inc. says it's temporarily cutting production at two mines to balance its overall…
  14. B.C. regulators order insurance firm, payday lenders to stop 'deceptive' sales

    Canada.com - Business
    09.20 / 18:56 www.canada.com
    VANCOUVER — An insurance company has been ordered to stop selling policies through two payday lenders and provide refunds after an investigation by British Columbia…
  15. Apple CEO defends 'dreamers' program

    Canada.com - Business
    09.20 / 18:56 www.canada.com
    NEW YORK — Apple CEO Tim Cook defended the government program that protects young immigrants in the U.S. illegally and called immigration the "biggest issue of our…
  16. Magna International suspends supply of parts to CAMI

    Cbc.ca - Business
    09.20 / 18:44 www.cbc.ca
    Autoparts maker Magna International announced Wednesday that it has suspended the supply of parts to CAMI, the Ingersoll auto manufacturing plant that's been crippled by a labour…
  17. OECD predicts Canada’s economic growth to be best in G7

    Thestar.com - Business
    09.20 / 18:14 www.thestar.com
    The Paris-based economic think tank says it now expects the Canadian economy to grow by 3.2 per cent this…
  18. Suncor investigating after more than 100 birds die at new oilsands mine

    Thestar.com - Business
    09.20 / 18:14 www.thestar.com
    The Alberta Energy Regulator announced it was dispatching an inspector to the mine north of Fort McMurray after Suncor reported finding 123 waterfowl and songbirds near a tailings…
  19. Couche-Tard still wants to sell marijuana as co-founder says provinces should butt out of sales

    Thestar.com - Business
    09.20 / 18:14 www.thestar.com
    Alimentation Couche-Tard wants to get involved in selling cannabis in some of its…
  20. U.S. duties on softwood lumber brings price surge, profit to Canada

    Thestar.com - Business
    09.20 / 18:14 www.thestar.com
    Quebec Premier Philippe Couillard says "the U.S. market has absorbed the…