LANIGAN 鈥� A joint venture between Blair鈥檚 Family of Companies and Federated Co-operatives Limited has been approved by the competition bureau.
The joint venture will own and operate locations in Lanigan, Watrous, Nokomis, Liberty, Lipton, McLean and Rosthern.
As a condition of regulatory approval and in accordance with the consent agreement 鈥� in which both parties agree to implement actions to address the potential effects of a proposed transaction 鈥� the joint venture will sell its interest in the Lipton location and anhydrous ammonia assets in Lipton and Balcarres after closing.
Ron Healey, Federated Co-op鈥檚 vice-president of ag and consumer business, said they are excited about the joint venture, which was first announced in February.
鈥淏lair鈥檚 farm customers will still work with the same experienced and knowledgeable teams they have trusted for years and will now have access to industry-leading services and a broad portfolio, including high-quality products exclusively manufactured or distributed by Co-op.鈥�
Blair鈥檚 staff will continue to manage the day-to-day operations of the retail locations under the Blair鈥檚 banner. The Blair鈥檚 management team will report to the joint venture鈥檚 board of directors.
While the sale process takes place, the Lipton location will be operated independently of the joint venture by certain members of the Blair鈥檚 management team. Eight Capital acted as financial advisors to Blair鈥檚 in connection with the joint venture and will act as financial advisor to the joint venture for the sale of the Lipton location.
鈥淔or over 73 years, our business has been committed to providing innovative solutions to advance the business of our farm customers, said Kevin Blair, the CEO of Blair鈥檚 Family of Companies.
鈥淲e are excited to be working with FCL as part of the new joint venture as they share our core values and commitment to our customers, employees and communities.鈥�
