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Viterra Buys Dakota Growers Pasta Company
TORONTO - May 5/10 - SNS -- Viterra Inc. completed its purchase of Dakota Growers Pasta Company, Inc.
This gives Viterra an integrated durum mill and pasta production plant in Carrington, North Dakota and a pasta production plant in New Hope, Minnesota.
The deal represents a total enterprise value of USD$240 million, which includes equity value and anticipated net cash/debt at closing, subject to certain adjustments for transaction costs and other closing adjustments.
The all-cash transaction, structured as a tender offer followed by a merger of a Viterra subsidiary and Dakota Growers, was unanimously approved by the Boards of Directors of both companies and originally announced on March 10, 2010.
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