By Amanda Brodhagen, Farms.com
Alliance Grain Traders Inc. (AGT), one of the world’s largest processors of pulses, said that it has agreed to acquire Québec-based CLIC International Inc., an ethnic and traditional food packer.
AGT said that the acquisition includes inventory, retail packaging and canning equipment, CLIC and retail brands, retail and food service listings and customer contracts. The CLIC management staff will also remain with AGT.
"The acquisition of CLIC bolsters our Ingredient and Packaged Foods business segment, with small packaging and canning lines to distribute a broad line of pulses and ethnic foods to the North American and global retail and food service sectors,” said Murad Al-Katib, President and Chief Executive Officer of AGT.
Al-Katib said the transaction will further AGT’s objective to transition from a commodity exporter to a food company. The terms of the deal were not disclosed.