Winnipeg, MB, July 26, 2018 – Ag Growth International Inc. (“AGI”) (TSX: AFN) is pleased to announce it has acquired the Sabe Group Companies (collectively, “Sabe”), a provider of processing solutions to the food, pet food, animal feed, fertilizer and biomass industries. Based in Chauché, France, Sabe sales and adjusted EBITDA in its most recently completed fiscal year were approximately €16.4 million and €2.5 million, respectively.
Sabe serves a global client base and has a turnkey approach that typically involves engineering, project management, manufacturing of equipment, and installation. Sabe joins Mitchell Mill Systems and Danmare as recent additions to AGI’s growing Food platform. AGI is proud to welcome Arnaud Meynial and the entire Sabe team to the AGI family.
AGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain, and feed systems with a growing platform in providing equipment and solutions for food processing facilities. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, South Africa, France and Italy, and distributes its product globally.
This news release contains forward-looking information within the meaning of applicable securities laws that reflects our expectations regarding the future growth, results of operations, performance, business prospects, and opportunities of the Company. Forward-looking information may contain such words as “anticipate”, “believe”, “continue”, “could”, “expect”, “intend”, “plan”, “will” or similar expressions suggesting future conditions or events. In particular, this press release includes forward-looking statements relating to the proposed timing of completion of the Offering and the anticipated use of the net proceeds of the Offering. Such forward-looking information is based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, the failure or delay in satisfying any of the conditions to the completion of the Offering. Additional information on these and other factors that could affect AGI's operations, financial results or dividend payments are described under “Risks and Uncertainties” and "Forward-Looking Information" in our most recently filed Management's Discussion and Analysis and Annual Information Form. These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking information. We cannot assure readers that actual results will be consistent with this forward-looking information and we undertake no obligation to update such information except as expressly required by law.