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Schreier Malting Co. completes $30M deal.

Schreier Malting Co. completes $30M deal

A partnership between the Schreier Malting Co. and the Saskatchewan Wheat Pool announced the completion of the purchase of Prairie Malt Ltd. for approximately $30 million.

Thomas Testwuide, president, Schreier and Saskatchewan Wheat Pool, is confident the purchase places both Prairie and Schreier in a more competitive position to better serve the needs of their worldwide customers.

"Combining Prairie Malt's existing strength in the Canadian and Asian markets with Schreier Malting's strength and experience in the American market creates an alliance to provide quality malt worldwide," Testwuide said.

The plant was purchased from the provincial government of Saskatchewan under a program to privatize government held businesses. As part of the deal, the employees of Prairie Malt are being offered the opportunity to purchase shares in the company.

A planned expansion project to increase capacity at Prairie Malt to 105,000 metric tons annually has begun under Schreier's direction, Testwuide added.
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Title Annotation:acquires Prairie Malt Ltd. from government of Saskatchewan
Publication:Modern Brewery Age
Date:Nov 27, 1989
Words:156
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