LÉVIS, May 15, 2025 – Exceldor Cooperative (Exceldor) and Sofina Foods Inc. (Sofina) today announced the signing of an asset purchase agreement under which Sofina will acquire the assets of Exceldor. The proposed transaction is subject to approval by Exceldor’s members and holders of investment shares, who will vote during the cooperative’s upcoming Annual General Meeting on June 5, 2025.
The result of a rigorous and thoughtful process, this agreement represents a strategic milestone in Exceldor’s history. With highly complementary operations, the transaction will ensure the continuity of Exceldor’s existing activities, strengthen its national presence, and accelerate the growth of brands such as Exceldor, Lacroix, Granny’s, Butterball and Saha Halal—across Canada.
Thanks to the operational synergies and complementary geographical markets created through this acquisition, Exceldor and Sofina will have laid the foundation for a new and ambitious chapter—focused on growth, long-term value creation, and the reinforcement of Canada’s food sovereignty.
“We are entering this next chapter with great enthusiasm. This agreement is a unique opportunity that will enable us to continue our activities in an increasingly competitive environment. The proposed acquisition by Sofina ensures the long-term legacy of generations of producers and employees who built the Exceldor Cooperative. It gives us the tools to strengthen our operations and create new opportunities for our producers and employees. It is also important to note that consumers will continue to enjoy high-quality Exceldor-branded products in Quebec and Granny’s-branded products in Manitoba—raised and processed in their respective provinces,” said René Proulx, President and CEO of Exceldor cooperative.
“Since our founding 30 years ago, Sofina has steadily grown to become one of Canada’s leading food processors, with an uncompromising commitment to operational excellence. This transaction reflects our desire to continue investing in the Canadian poultry industry, in plants and capabilities, to better serve Canadian consumers from coast to coast. Exceldor is a well-established organization with whom we share a common culture of excellence, discipline and integrity. We look forward to working with Exceldor’s team to further elevate its flagship brands in Quebec and across Canada,” said Michael Latifi, Founder, Chairman and CEO, Sofina Foods Inc.
Following approval by Exceldor’s members and holders of investment shares, the transaction will also be subject to approval by the Competition Bureau.
Exceldor engaged BCF Business Law as its legal advisor, PwC Corporate Finance in Québec as its corporate financial advisor, and EY as its tax advisor. Sofina engaged Stikeman Elliott LLP as its legal advisor, PwC as its financial and tax advisor, and WSP as its environmental advisor.
For the full press release : Press Release