Golden Opportunities Fund, a fund managed by Canadian private equity and venture capital firm Westcap Management, has led the management buyout of Prairie Meats, a Saskatoon-based provider of meat products through processing, wholesaling and retail facilities. Golden Opportunities invested $7.3 million alongside members of the company’s management team to take a significant stake in the newly formed Prairie Meats LP. Prairie Meats was established as a family-owned operation in 1983. It said the partnership with Golden Opportunities will allow the business to continue to grow and expand its product lines and services.
Golden Opportunities leads succession planning of Prairie Meats
SASKATOON, May 6, 2015 /CNW/ – Golden Opportunities Fund Inc. (“Golden”) is pleased to announce it has led a major transaction to complete the management buyout of Prairie Meats, a hallmark business in Saskatchewan servicing the retail and commercial butcher shop market. Golden invested $7.3 million alongside members of the management team to take a major position in the newly formed Prairie Meats LP.
Prairie Meats was established in 1983 as a family-owned operation and quickly developed a reputation for providing personalized service and quality products. Today, the company is an industry leader in Saskatchewan offering quality meat products through its processing, wholesaling and retail facilities. Prairie Meats now has over 130 employees at its locations in Saskatoon and Regina, offers 1,700 products, and services customers throughout the Province. The buyout affirms a promising future for the company.
Well-known company founder, Gene Dupuis, will continue to be active in the day-to-day operations of the company alongside his key management team, all of whom have reaffirmed their commitment and excitement for the company’s future. “Golden Opportunities Fund’s investment will allow Prairie Meats to continue to grow its operations throughout Saskatchewan expanding product lines and services” says Dupuis.
“This investment complements the strategic positioning of our portfolio, focused on investing in the proven track record and success of long-standing companies here in Saskatchewan – keeping local businesses owned and operated at home,” comments Grant Kook, President and CEO of Golden. “We were pleased to bring the necessary capital and expertise to enable a successful succession plan for the owners.”
About Golden Opportunities Fund Inc.: Golden is Saskatchewan’s longest-standing Provincial labour-sponsored venture capital corporation. The Fund is managed by Saskatchewan’s private equity and venture capital fund manager, Westcap Mgt. Ltd., who has committed more than $780 million in investment into Saskatchewan.
SOURCE Golden Opportunities Fund Inc.
For further information: Grant Kook, President and CEO, Westcap Mgt. Ltd., 830 – 410 – 22nd St., E., Saskatoon, SK, Tel: (306) 652-5557; Wanda Hunchak, Vice President, Westcap Mgt. Ltd., 830 – 410 – 22nd St., E., Saskatoon, SK, Tel: (306) 652-5557
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