Crown Investments Corporation of Saskatchewan (CIC) is investing $15 million
in Premium Brands Inc., Western Canada's leading producer and distributor of
specialty food products. Premium Brands will expand its operations in
Saskatchewan, with immediate projects expected to create 120 jobs in the
Yorkton area and other rural regions of the province.
"This is a good investment because it will create 120 jobs in rural
Saskatchewan and it has the potential to generate a significant rate of
return over the life of our investment," CIC Minister Maynard Sonntag said.
"The company's expansion projects will also develop our primary and secondary
food processing industries and our hog production capacity, helping
Saskatchewan become a leader in value-added agriculture."
Premium Brands will double the sow processing capacity at Harvest Meats in
Yorkton, which has the only sow processing facility in Western Canada. The
expansion will ensure an adequate supply of raw material for its specialty
sausage products such as European style sausages and Harvest's farmer's
sausage. The expansion will also allow for the production of meat snack
products under McSweeney's and Grimm's brand names.
As well, Premium Brands is working with Community Pork Ventures Inc. of
Outlook (CPVI) to double its hog production over the next several years.
Premium Brands owns one third of CPVI.
"We are proud to be entering into this partnership with Premium Brands,"
Deputy Premier and Agriculture and Food Minister Clay Serby said. "Harvest
Meats has been an important part of Yorkton's economy for many years, while
CPVI has played a significant role in many rural communities across
Saskatchewan. We are pleased with the continued growth in both of these
businesses and look forward to a long and rewarding partnership with the
Premium Brands group of companies."
"This is the second major addition to the Yorkton facility since Harvest's
merger with Premium Brands in 1998," Premium Brands President George
Paleologou said. "The expansion of our meat snack capacity will enable us to
accelerate our growth plans for Grimm's and McSweeney's brands in eastern
Canada and the U.S. The incremental sow processing capacity will also help
to ensure we have the high quality raw materials needed to support this
"Both Harvest and CPVI are leading players in their respective markets due in
part to the advantages they gain by being able to leverage Saskatchewan's
natural competitive advantages," Premium Brands Chairman and CEO Fred
Knoedler said. "Looking forward, we see significant opportunities for the
further development of primary and secondary processing in Saskatchewan."
Premium Brands has been in the food processing business since 1917 and has
manufacturing facilities in British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Washington and Oregon. Premium Brands has more than 1,400
employees, including 150 in Saskatchewan.