EDMONTON Lilydale Inc. is being acquired by Sofina Foods for about $130
million in a deal that ends its 70 years as a producer-owned poultry processor.
Privately-owned Sofina, based in Markham, Ont., will pay $75 million in cash and
debentures, and assume about $55 million in debt. Sofina also plans to spend $20
million over the next two years to upgrade Lilydale’s production capacity.
Shareholders get $10 a share in cash and about $5.43 per share in debentures,
which will pay four-percent interest until the October 2011 maturity date.
Photo Caption: Inside Edmonton’s Lilydale plant.
Photo Credit: Edmonton Journal.com
To read the rest of this story please go to:
The Edmonton Journal