Market News
13Apr2006 |
E.D. Smith to Buy Grocery Unit of Golden Valley FoodsWinona, Ont.-based E.D. Smith Income Fund says it has signed a letter of intent to acquire the grocery products division of Golden Valley Foods Ltd., for an undisclosed amount. British Columbia-based Golden Valley Foods, a leading manufacturer of private label and branded jams, jellies, marmalades and salsa in Western Canada, generates annual sales of $14.1M. The E.D. Smith fund says it expects the acquisition will immediately add to distributable income and result in cost-saving synergies related to distribution. The deal is expected to wrap up in early May. Source: Canadian Grocer E-Newsletter, April 13, 2006. 
|