Toronto, June 5, 2023 – CCC Investment Banking (“CCC”) a national independent investment bank announced it acted as the exclusive financial advisor to T&R Sargent Farms Ltd. and related companies (collectively, “Sargent Farms”) on the sale of 100% of the operating business to Sunrise Farms.
Sargent Farms is one of the largest independent processors of chicken in the Ontario market. Further, it is a leading provider of 100% halal-certified products, ensuring it meets its valued customers’ diverse needs and preferences. Sargent Farms has long focused on positively impacting the local community, and Sunrise Farms is looking to take up this mantle.
Kevin Thompson, CEO Sargent Farms, is continuing in his current capacity under Sunrise Farm’s ownership said, “CCC generated multiple interested buyers and was instrumental in guiding Sargent Farms through the very rigorous and complex process that was involved in successfully executing the sale. Ultimately, Sunrise Farms proved to be the best fit in terms of both valuation and to continue the values upon which Sargent Farms was built”.
Robert Bird, Managing Director at CCC said, “We were pleased to assist Sargent Farm’s management team and the Sargent family in completing the transaction. Our strategic outreach prompted by an unsolicited offer resulted in an optimal outcome for our client and their business. With its acquisition of Sargent Farms, Sunrise reinforces its position as Canada’s leading independent family-owned poultry processor that will continue to serve both the Ontario consumer and chicken farmer well.”
Sunrise Farms intends to keep business as usual at Sargent Farms with no changes to its employees, operations, halal product offering or the Sargent management team.
“We are very excited about this opportunity to expand into the Ontario primary chicken market, and we look forward to working with Sargent’s customers, chicken farmers and other industry stakeholders,” said Peter Shoore, founder and chairman of Sunrise Farms. “We thank Bob Sargent, and his team, for trusting in us to move forward with the business they have built.”
The Chicken Farmers of Ontario (CFO) expressed its thoughts on the upcoming acquisition and explained how it would help the provincial poultry industry.
“CFO welcomes Sunrise Farms and is pleased to see this new investment in the Ontario chicken processing sector,” said Murray Opsteen, chair of Chicken Farmers of Ontario. “CFO and its farmers have a longstanding relationship with Sargent Farms, as Sargent has been a significant contributor to our sector. We would like to extend our appreciation for many years spent working collaboratively with our farmers and providing high-quality chicken to Ontarians.”
The sale of Sargent Farms assets exemplifies another successful engagement completed by CCC investment banking in the Food and Beverage industry. CCC’s relentless commitment to close was critical in navigating complex organizational structure, regulatory requirements and unique deal issues commonplace in a transaction of this importance to buyer and seller.
CCC is a leading independent investment bank with offices in Toronto and Vancouver. For over 40 years, CCC has provided expert advice to clients completing divestitures, acquisitions, capital raises, valuations, and other capital decisions. CCC practices “A Relentless Commitment to Close” and is focused on understanding and achieving its client’s objectives. CCC knows that transactions are complex and require focus and perseverance to achieve exceptional results.
For over 80 years, Sargent Farms has maintained a tradition of producing quality chicken and food products with passion, integrity and care. It takes great pride in partnering with local, family-run farms in Ontario, sourcing chicken from trusted sources that share its commitment to excellence.
Sunrise Farms is a group of companies that includes hatchery operations; poultry farming; primary processing (Sunrise Poultry Processors Ltd.); and further processing (Grand River Foods Ltd.); to distribution of other protein products across Canada.