Winnipeg, Manitoba, Canada
July 3, 2024
CANTERRA SEEDS Holdings Ltd. (“CANTERRA SEEDS”) announced today that United Farmers of Alberta Co-operative Limited (“UFA”) has acquired a 17% stake in CANTERRA SEEDS from Ceres Global Ag Corp. (“Ceres”).
In connection with the foregoing, Scott Bolton, President and CEO of UFA, has been appointed, as a representative of UFA, to the CANTERRA SEEDS board of directors. CANTERRA SEEDS also announced that Mr. Jeff Wildeman, representative of Ceres, has resigned from the board of directors of CANTERRA SEEDS.
“Ceres was looking to streamline their asset footprint and focus on their core business,” says Brent Derkatch, CANTERRA SEEDS President & CEO. “UFA is already a key partner of CANTERRA SEEDS, and when the opportunity presented itself to ingrain themselves in our seed business further, they jumped on it.”
CANTERRA SEEDS, headquartered in Winnipeg, Manitoba, is also owned by Limagrain, 175 seed growers, ag retailers and private investors. The company offers one of the broadest field seed portfolios in Western Canada including canola, cereals, pulses and specialty crops. They secure top-quality hybrids and varieties through plant breeding institutions, including Limagrain Cereals Research Canada (“LCRC”). LCRC was formed in 2015 through a joint venture with CANTERRA SEEDS and Limagrain, the fourth largest seed company in the world.
UFA’s interest in the company stems from CANTERRA SEEDS’ investment and commitment in new variety development and top-performing genetics, specific to the prairie landscape.
“Our investment in CANTERRA SEEDS provides an opportunity for us to increase our focus on research and innovation to deliver added value to our members and customers,” says Scott Bolton.
While the change will not impact day-to-day operations for either company, CANTERRA SEEDS welcomes the ag retailer to its diverse shareholder group. CANTERRA SEEDS looks to continue adding like-minded shareholders that add value to western Canadian farmers, creating win-win opportunities.
“CANTERRA SEEDS was built on close, collaborative partnerships,” says Jim Wilson, CANTERRA SEEDS Chairman. “Along with farmer-owned Limagrain, we now have a company stakeholder that has deep roots in the Canadian Prairies like us; founded on trust and exceptional customer service – we’re happy to have UFA on board.”
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