Sale of Hi Pro Feeds, a Division of Friona Industries, L.P., to Agricore United.CHICAGO -- Goldsmith Agio AGIO, aggio. This term is used to denote the difference of price between the value of bank notes and nominal money, and the coin of the country. Encyc. Helms announced today the completed sale of its client, Hi Pro Feeds, a division of Friona Industries, L.P., to publicly traded Canadian agribusiness concern Agricore United Agricore United was a farmer-directed agri-business in Canada. It supplied crop nutrition and crop protection products, and offered grain handling and marketing services. It was created on November 1, 2001 by the merger of Agricore and United Grain Growers. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AU). The total consideration received for the transaction was $38.5 million plus working capital. Barry D. Freeman, Managing Director and shareholder of Goldsmith Agio Helms announced, "We were delighted to be a part of this exceptional transaction outcome for Friona Industries as well as helping to form Agricore United's first U.S. acquisition. Agricore United should benefit tremendously with the addition of Hi Pro's management team, quality products, excellent brand reputation, and strong growth trajectory in the dairy markets of west Texas and eastern New Mexico Eastern New Mexico is a region of the U.S. state of New Mexico. The region is sometimes termed the High Plains. It is generally located at an altitude of over 4,000 feet and is mostly characterized by relatively level terrain. . The Hi Pro transaction was our fourth completed sale mandate in the animal nutrition sector for our firm's active agribusiness practice and representative of the strong outcomes we are securing for our clients." James E. Herring, President and Chief Executive Officer of Friona Industries, L.P., commented, "The sale of Hi Pro, a business Friona established nearly 40 years ago, was highly opportunistic and based on the tremendous interest we had been receiving in the strong franchise that had been built in our area. We at Friona all would like to thank the good people at Hi Pro for their years of service with us and wish them only continued success with their new partners at Agricore United. We would also like to recognize the exceptional job executed by the team at Goldsmith Agio Helms who played a key role in orchestrating this entire transaction." "Hi Pro complements our existing operations extremely well, since their management style and business model align very closely with our own," says Bill McGill Bill McGill (born September 16 1939, in San Angelo, Texas) is a retired American basketball player. A 6'9" center/forward from the University of Utah, McGill was selected by the Chicago Zephyrs with the first pick of the 1962 NBA Draft. , Vice-President of Agricore United's Livestock Services division. "The strength of their existing management team, their modern assets, the strong reputation they've earned for the consistency and quality of their products, their value-added product development and their cost competitiveness were important considerations in our decision to expand into this broader North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market." Friona Industries, L.P., located in Amarillo, Texas “Amarillo” redirects here. For other uses, see Amarillo (disambiguation). Amarillo is the 14th-largest city in the U.S. state of Texas and the seat of Potter County. is the fourth largest commercial cattle feeding Different cattle feeding production systems have separate advantages and disadvantages. All cows have a diet that is composed of at least some forage (grass, legumes, or silage). In fact most beef cattle are raised on pasture until they reach a year of age. company in the world. Operating four state of the art feedyards with a combined annual capacity of over 275,000 cattle, Friona has been instrumental in developing vertically aligned production systems in the beef industry that has enabled the creation of high-quality branded fresh product for some of the largest grocery retailers across the United States. Agricore United is one of Canada's leading agri-businesses with headquarters in Winnipeg, Manitoba and extensive operations and distribution capabilities across western Canada. Agricore United uses its technology, services and logistics expertise to leverage its network of facilities and connect prairie-based agricultural customers to domestic and international customers and suppliers. The company's operations are diversified into sales of crop inputs and services, grain merchandising, livestock production services and financial services. Agricore United's common shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "AU". Goldsmith Agio Helms, one of the U.S.'s largest independent private investment banking firms, provides financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to middle market businesses including merger and acquisition advisory, distressed advisory and restructuring, valuations and fairness opinions, and private placements of debt and equity. Visit our website at www.agio.com. |
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