P and H Foods in Hanover has been sold.
Quebec company Exceldor has signed a definitive agreement with P and H to buy the turkey processing plant in Hanover.
Exceldor President and CEO Ren Proulx says it intends to operate and enhance the P and H Foods facilities.
P&H Foods President Paul Borg says their 400 employees look forward to becoming members of the Exceldor team.
Exceldor employs more than 1,400 people and processes 1.4 million chickens and turkeys every week for the retail, food service and secondary processing markets.
It will now be able to add Butterball products to its portfolio since P and H Foods produces and sells products under the Butterball brand.
Under the deal, Exceldor will also get joint venture interest in Golden Valley Farms, consisting of a further processing plant in Arthur.
P and H says the sale will allow the company to focus on its main business of grain trading and flour milling.
No word on the purchase price, and the deal still needs regulatory approval and is expected to close in the third quarter of the current calendar year.
