EGI acquires stake in ILTA Grain in Canada
Canada-based Equity Group Investments (EGI) has purchased a stake in pulse crop processor and exporter ILTA Grain (ILTA).
Based in Surrey, British Columbia, ILTA exports products to customers across 40 countries from its processing plants in Western Canada.
The company noted that the demand for its GMO-free and gluten-free pulses has been increasing due to population growth and changes in consumer preferences for healthier lifestyles in developed countries.
ILTA chief executive officer and president Dan Burneski said: “We welcome EGI as an investment partner.
“The firm’s financial support and a long history of adding value to its investments will enhance our ability to expand our footprint in a global marketplace with strong demand for our products.”
In addition to EGI, certain investment funds associated with NGP Energy Capital Management own a major stake in ILTA.
EGI was founded by Sam Zell nearly five decades ago, which primarily focuses on the opportunistic investments across the debt and equity markets.
Zell said: “We are attracted to the long-term growth trend of this industry.
“ILTA is a high-quality, low-cost leader with advanced facilities and a seasoned leadership team. We look forward to partnering with management and the existing investors to continue to drive growth and value.”