HyLife Ltd. has acquired a majority stake in Prime Pork, a Windom, Minn.-based hog processor, as part of an expansion of the Manitoba, Canada-based company’s North American operations.
The purchase of 75% of Prime Pork from Taylor Corp. will increase HyLife’s processing capacity to 3.2 million hogs annually and strengthen its supply chain in both Canada and the United States, HyLife said in a news release.
Prime Pork, which employs 660, currently processes about 1.2 million hogs annually, and has both hog farming and processing assets. The company contracts with third parties for barn facilities and feed management.
“Prime Pork will allow us to expand our operations into the United States,” Grant Lazaruk, HyLife’s chief executive, said in a statement. “Plants in both Canada and the US will strengthen our supply chain, giving us further diversity in our operations to better serve our customers around the world.”
Taylor Corp. is Minnesota’s 10th-largest privately held company with holdings in a variety of agricultural entities, the NBA’s Minnesota Timberwolves, the WNBA’s Minnesota Lynx, the Minnesota Star-Tribune newspaper and printing assets.