Press release from Marketwire
Dundee Corporation Acquires Interest in Blue Goose Capital Corporation
Friday, December 09, 2011
TORONTO, ONTARIO--(Marketwire - Dec. 9, 2011) - Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee" or the "Company") is pleased to announce today that, through its wholly-owned subsidiary, Dundee Agricultural Corporation, it has acquired a majority stake in Blue Goose Capital Corporation, the 100% owner of The Blue Goose Cattle Company Ltd. ("Blue Goose").
Blue Goose is a privately-owned Canadian company with a leading position in the organic and natural beef production markets. Blue Goose has operations in both British Columbia and Ontario. Under its stewardship, it has 700,000 acres of deeded, leased and licensed grazing land, as well as one of the largest organic cattle herds in North America.
Blue Goose is managed by a core group of seasoned agri-business professionals led by Kevin Reed, its Chairman and Chief Executive Officer and a significant minority shareholder. David Fraser, a retired Major General from the Canadian Forces is the Chief Operating Officer of Blue Goose and Doug Sinclair, the original founder and President of the cattle company, continues in his current position. "Doug has built a premier vertically integrated, organic cattle operation, which has given us a tremendous platform to build one of the largest producers of clean protein" stated Mr. Reed.
The Blue Goose Cattle Company Ltd. was founded in 1992 by Doug Sinclair and has been providing high-quality organic and natural beef products since its inception. Blue Goose's products are marketed under the "The Blue Goose Cattle Company" brand name, which is widely recognized in its markets as the premier producer of organic and natural beef products. Blue Goose branded products are sold at leading retailers that specialize in the highest quality organic and natural products.
The organic and natural food markets, including those for beef, have been expanding at significant growth rates and Blue Goose expects this trend to continue for the foreseeable future as consumers demand healthy, sustainable and traceable premium products. As such, Blue Goose's strategy is to take advantage of the significant opportunity to grow its business and supply increasing amounts of its premier organic and natural beef products to retailers in order to meet consumer demand. Blue Goose plans to execute on available expansion opportunities in order to replicate its proven formula for developing and selling the highest quality organic and natural Blue Goose branded beef products.
Ned Goodman, President and Chief Executive Officer of Dundee said "The investment in Blue Goose reflects part of Dundee's strategy to be involved in inflation protection investments such as sustainable agriculture, resources, infrastructure and real estate on a global basis. The Blue Goose acquisition represents an attractive entry point into the agricultural sector. We are very excited about this opportunity and look forward to increasing our exposure to the agricultural asset class."
FOR FURTHER INFORMATION PLEASE CONTACT:
Ned Goodman Dundee Corporation President and Chief Executive Officer (416) 365-5665
Lucie Presot Dundee Corporation Vice President and Chief Financial Officer (416) 365-5157