Canadian pork producer HyLife has purchased a 75% stake in processing facility Prime Pork from Taylor Corporation.
Located in Minnesota, Prime Pork is a recently renovated meat plant that produces, processes, and sells pork products, with around 1.2 million hogs passing through its doors every year.
Through its new partnership with Glen Taylor – chairman and CEO of Taylor Corporation – HyLife says it expects to increase its processing capacity to 3.2 million hogs annually.
The company dubbed the deal a “unique opportunity” to team up with an operation that already has a network of producers and customers, as well as 660 employees.
Manitoba-based HyLife is owned by Japan’s Itochu (49.9% of shares) and Charoen Pokphand Foods, who has held the controlling stake since 2019.
“Prime Pork will allow us to expand our operations into the United States,” said Grant Lazaruk, HyLife’s president and CEO.
“Plants in both Canada and the US will strengthen our supply chain, giving us further diversity in our operations to better serve our customers around the world.”
Glen Taylor added: “I have been really pleased with the start-up of Prime Pork in Windom. With this new partner and leadership, I am confident this partnership will be great for the community, employees and area producers.
“Prime Pork’s location in southern Minnesota provides an abundance of resources, securing hog supply and the other raw materials required to operate a processing facility efficiently.”
The US meat industry has been hard hit by the coronavirus outbreak, with plant closures and production cuts prompting fears about meat shortages in the country.
President Donald Trump faced a backlash for signing an executive order to force plants to stay open – criticism which was amplified when it subsequently emerged that exports to China had been increasing amid the pandemic.
© FoodBev Media Ltd 2020
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