Expansion of Integrated Pork Production Base in North America
May 25, 2020
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that HyLife Group Holdings Ltd. (headquartered in Canada; Grant Lazaruk, CEO; hereinafter “HyLife”), which ITOCHU has invested in together with Charoen Pokphand Foods Pcl (headquartered in Thailand; Soopakij Chearavanont, Chairman), has purchased the hog farming operations owned by the ProVista group of companies (headquartered in Canada; Arthur Rempel and Harold Rempel, co-founders; hereinafter “ProVista”) and has acquired 75% of the equity interest of Prime Pork, LLC (headquartered in the United States of America; Glen Taylor, Chairman; hereinafter “Prime Pork”) with the goal of expanding its integrated pork production base in North America.
ProVista is a hog farming group of companies based in the Manitoba Province of Canada, with a production capacity of approximately one million pigs annually and owning 29 hog farming locations and 37,000 sows. Prime Pork is a company specializing in processing and sales of pork based in the state of Minnesota, U.S.A., processing approximately 1.2 million pigs annually. A stable supply of pigs will be secured through the purchase of ProVista’s hog farming operations through HyLife, and a production base in the U.S.A. will be secured and the pork processing business will be expanded through the acquisition of Prime Pork. Combined with the existing business, the HyLife Group’s overall annual production capacity will now total approximately 3.2 million pigs through the strengthening of the supply chain in North America. Through this business, HyLife will contribute to the development of the local community in addition to seeing further growth in its integrated pork production business in North America.
Manitoba, Canada-based hog farming and processing corporation. Sells its products in twenty countries, including Japan, producing 2.3 million pigs and processing two million pigs annually. HyLife’s initiatives have been well received in the market, and it has been named a Platinum member of Canada’s Best Managed Companies due to its dedication to employees, customers, and the local community.