Olymel will pay C$65.25 million ($65.91 million) for Big Sky Farms, which is based in Humboldt, Saskatchewan, in a deal that will likely close by the end of January, said the receiver, Ernst & Young senior vice-president Kevin Brennan, last Wednesday.
Olymel made the offer in October, kicking off a sales process that would have led to an auction if there had been a higher bid. The Montreal-based company currently does not raise hogs, but operates a large hog-slaughter plant at Red Deer, Alberta.
Big Sky entered receivership in early September after piling up C$69 million in debt to secured creditors.
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