Claude Carles, president of Weyburn Inland Terminal (WIT), announced on June 3 that the company has entered into a letter of intent with Sedley Seeds (2007) Ltd., which will, if completed, result in WIT acquiring all of the assets of Sedley Seeds.
"Weyburn Inland Terminal continues to be a profitable, farmer-owned and directed company," said Carles. "Our investment in lentil and canary seed processing at our Vigro Seed & Supply location has been positive, and this is an opportunity to expand our ability to participate in that business sector."
According to Carles, sound investments made over the years have allowed the company to evaluate a number of opportunities for continued investment in value-added opportunities.
"Lentil production is a key part of the farm economy in south-eastern Saskatchewan," noted CEO Rob Davies. "We have been reviewing opportunities to increase our processing capacity over the past several years, and the Sedley Seeds facilities fit well with our needs."
Prior to finalizing any acquisition, WIT has an extensive due diligence process to follow. The due diligence process is expected to be completed by the end of June.
Terms of the proposed acquisition are to remain confidential until the transaction is complete.
Sedley Seeds (2007) Ltd. is a privately held Saskatchewan-based company located in the Rural Municipality of Lajord No. 128, near the village of Sedley.
WIT is a shareholder-owned, farmer-directed grain company located on CP Rail's Soo Line near Weyburn.
