November 4, 2019
Global Food and Ingredients Inc. and Canpulse Foods Ltd Announce a Strategic Asset Purchase and Toll Processing Agreement
Global Food and Ingredients Inc. (GFI) and Canpulse Foods Ltd. (Canpulse), a subsidiary of Globeways Canada Inc. (Globeways), are pleased to announce a strategic Asset Purchase and Toll Processing Agreement involving three pulse and specialty crops processing facilities of Canpulse in Saskatchewan.
The Facilities are located in Lajord, Sedley and Zealandia, Saskatchewan, in the heart of Canada’s pulse and specialty crops production. The Facilities are strategically located in key origination areas for red and green lentils, yellow and green peas and other specialty crops.
GFI will provide procurement, inland logistics, storage, toll processing and value-added services to Canadian exporters of pulses and specialty commodities. The Facilities have independent primary processing lines, capable of cleaning and colour sorting lentils, peas and other specialty crops to meet all industry requirements. In addition, the facilities are capable of bagging, bulk loading, transloading and shipping outgoing product by rail or truck.
“This is a very exciting opportunity for GFI”, commented CEO David Hanna, “…we are focused on running each of the facilities efficiently, enabling our partners to focus on continuing to grow their domestic and international markets. We are committed to processing pulses and specialty commodities at the highest industry standards”.
Tanvir Zaidi, CEO of Canpulse and Globeways, added, “We are excited to partner with GFI to process some of our Canadian specialty crop originations. We share GFI’s philosophy of building sustainable trade flows across global supply chains and look forward to working with them to grow our volume of commodities originated from Canada. The toll processing agreement with GFI will allow us to focus on further strengthening our position as a major exporter of lentils and pulses and being the preferred choice of buyers around the world.”
Headquartered in downtown Toronto, GFI is a fast growing Canadian food and ingredients company. GFI has a highly experienced team that understands the products, the logistics and the financial aspects of trade and is committed to building a leading organization that does business differently. GFI's business philosophy is to partner with producers and exporters to create sustainable trade flows that benefit everyone throughout the global pulses and specialty crops supply chain.
Canpulse Food Limited, headquartered in Saskatchewan is one of the largest processors & exporters of Canadian lentils, peas, dry beans, canary seed and other specialty crops with processing facilities in Saskatchewan & Manitoba, boasting a processing capacity of over 500,000 MT per year.
The agreements are expected to close in the month of November 2019.