Origin Merchant Partners is pleased to announce that Hi-Pro Feeds Inc. (“Hi-Pro”) has completed the divestiture of its Dexter, New Mexico processing facility (“Dexter North”) to The Scoular Company (“Scoular”). Built in 2002, the Dexter North facility processes steam-flaked and rolled corn primarily for major dairy operators in the New Mexico region. Dexter North includes a shuttle train loop track connected to BNSF’s Southwestern line capable of handling a 110-car unit train and storage capacity for 850,000 bushels of corn.
Origin Merchant Partners acted as exclusive financial advisor to Hi-Pro with respect to this transaction.
Hi-Pro Feeds Inc., a Birch Hill Equity Partners’ portfolio company, was founded in 1942 and is a single system of eleven individual feed mills serving the animal nutrition industry in the U.S. and Canada. Headquartered in Okotoks, Alberta Hi-Pro represents a partnership of individual sites, each of which was originally created out of a desire to serve local animal nutrition needs.
Birch Hill Equity Partners invests in leading Canadian middle-market businesses. With $2.0 billion in capital under management, Birch Hill’s team has many years of experience working together as an active partner with top management teams in building long term value. Since 1994, Birch Hill has made more than 50 investments with 33 fully realized. Birch Hill acquired Hi-Pro from Viterra Inc. in 2012.
The Scoular Company is a 120-year old company with more than $6 billion in sales. The Scoular Company operates 90 independent business units that provide diverse supply chain solutions for end-users and suppliers of grain, feed ingredients, and food ingredients. The Scoular Company’s 700+ employees are engaged in buying, selling, storing, and handling grain and ingredients as well as managing transportation and logistics worldwide.