AGT Food and Ingredients
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Public company | |
Traded as | TSX: AGT |
Industry | Agriculture |
Founded | 2001 |
Headquarters | Regina, Saskatchewan, Canada |
Number of locations | 47 facilities (2016) |
Area served | Worldwide |
Key people |
Murad Al-Katib (President and CEO) Hüseyin Arslan (Executive Chairman) |
Revenue |
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Total assets |
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Total equity |
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Number of employees | 1,900 (2016) [2] |
AGT Food and Ingredients is a Canadian processor of pulses and other food ingredients. It is one of the largest pulse-processing companies in the world.[3] It is a public company listed on the Toronto Stock Exchange.
History
AGT was founded in 2001 as SaskCan Pulse Trading by Murad Al-Katib, the present CEO.[3] He received funding from the Arslan family of Turkey, owners of the Arbel group, a Turkish pulse-processing company.[3] In 2007, the Agtech Income Fund acquired SaskCan, and then renamed itself Alliance Grain Traders.[4] As a result of this deal, Alliance Grain Traders was listed on Toronto Venture Exchange.[4] In 2009, Alliance Grain Traders converted from an income fund to a normal corporation. Also in 2009, Alliance Grain Traders bought the Arbel group for $104 million, including its pasta business.[4][5] In 2011, the company took over South Africa based Advance Seed.[6] Since 2012, it has shifted into the packaged foods business.[7] In particular, it has expanded production at its facility in Minot, North Dakota.[8] In 2014, the company was renamed AGT Food and Ingredients.[3] In 2015, AGT bought Big Sky Rail, a Saskatchewan short line railway, for $57.5 million.[9] In 2018, it was part of the consortium that purchased the Hudson Bay Railway.[10]
Business
AGT buys, processes, and distributes pulses, including lentils, peas, and beans, as well as grains and other agricultural commodities.[7] It also manufactures and distributes food ingredients and packaged foods. In 2016, pulses were responsible for 58% of sales, milled grains for 7%, and rices and other products for 35%.[2] As of 2016, 58% of revenue was from pulse and grain processing, 28% was from distribution, and the other 14% was from food ingredients and packaged foods.[2] It has facilities in Canada, the United States, Turkey, China, South Africa, and Australia. In 2016, 6% of sales were in Canada, 12% were in the rest of the Americas, 28% were in Asia-Pacific, and the other 54% were in Europe, the Middle East, and North Africa.[2]
References
- 1 2 3 4 5 "AGT Financial Results 2016". Retrieved 2 January 2018.
- 1 2 3 4 "AGT Annual Information Form 2016". Retrieved 2 January 2018.
- 1 2 3 4 "The Power of Pulses: A tale of two pulse processors". Regina Leader-Post. 2016-08-19. Retrieved 2018-01-02.
- 1 2 3 "A decade on Alliance Grain Traders has achieved a lot". Financial Post. 2013-01-31. Retrieved 2018-01-02.
- ↑ "Alliance Grain to buy Arbel Group in $93 mln deal". Reuters. 2009-06-17. Retrieved 2018-01-02.
- ↑ "South Africa: Advance Seed Taken Over By Alliance Grain Traders". Biz-Community (Cape Town). 2011-10-13. Retrieved 2018-01-02.
- 1 2 Milstead, David (2017-11-11). "Smart Money Willing to Play the Waiting Game on AGT". The Globe and Mail.
- ↑ "Food sector bright spot for AGT - The Western Producer". The Western Producer. 2016-03-31. Retrieved 2018-01-02.
- ↑ "Pea Producer Bypasses Prairie Traffic Jam With Own Railroad". Bloomberg.com. 2015-12-15. Retrieved 2018-01-02.
- ↑ "Warm reception in Churchill for new owners of port and railway | CBC News". CBC. Retrieved 2018-09-19.