Agricore-UGG merge; to divest Vancouver port terminal
November 01, 2001
by Emily Wilson
Agricore and United Grain Growers completed their previously announced merger transaction to form Agricore United after reaching agreement with the Canada’s Commissioner of Competition to divest several primary grain handling elevators in western Canada and one port terminal elevator in Vancouver.
The merger proposal was announced July 30. A month later, the shareholders and delegates of Agricore approved the merger.
Agricore United agreed to sell a minimum of five primary grain elevators in the Edmonton and Peace River regions of Alberta, a primary grain elevator in the Dauphin region of Manitoba and a port facility.
"We are taking steps to ensure that farmers and grain handling companies continue to enjoy the benefits of competitive access to the Vancouver port terminal facilities," said Gaston Jorre, Canada’s senior deputy commissioner of competition. "Access to the Vancouver port terminals is vital in maintaining a competitive and efficient grain handling industry in Western Canada."