Legumex Walker has announced that it has entered into a long-term strategic alliance with The Scoular Company, which is a century old agricultural marketing company with operations across North America.
Scoular will procure all canola seed for processing at Legumex Walker's Pacific Coast Canola (PCC) plant and will market all of the canola meal and canola oil produced by PCC.
"Our alliance with Scoular is the product of extensive discussions in which we have found numerous synergies with our specialty crops business in the U.S. and Canada, as well as the PCC relationship," said Joel Horn, President and Chief Executive Officer of Legumex Walker Inc. "We have been pleased to discover a shared commitment to customers in the healthy, specialty food ingredient market. There is growing demand for these high-value specialty products and we're excited to partner with Scoular as we pursue both short- and long-term opportunities in this area."
Scoular will also invest in a $16 million Legumex Walker convertible debenture that is expected to help link scoular's marketing and transportation networks to Legumex Walker's specialty crops business
The deal is expected to be completed within the next week or so.