VICTORIA – PRT Growing Services Ltd. announced its recent acquisition of U.S. based International Forest Company, which accelerates the company’s growth and establishes PRT as North America’s leading provider of premium-quality container and bareroot seedlings.
“We’re pleased to welcome a talented, innovative team that shares our passion for supporting customers’ forest regeneration and sustainability efforts,” said Randy Fournier, Chief Executive Officer, PRT. “This transformative acquisition brings together two great companies to establish the only pan-North American forest seedling supplier. Together, we are excited to continue to provide premium-quality products and services to enhance the resiliency and diversity of our forests.”
As a trusted leader in advanced, high-value forest seedling genetics, IFCO brings extensive expertise in controlled mass pollination coupled with bareroot and container seedling stock to deliver consistently high yields of healthy, superior-quality seedlings. Together, as a combined entity, PRT will operate 14 seed orchards and 28 nurseries, producing 630 million forest seedlings annually. This acquisition supports PRT’s strategic growth plans and commitment to helping customers achieve regulatory compliance and reforestation objectives to mitigate climate change.
“Our priority is and has always been our customers,” said Patrick Mobley, Chief Executive Officer, IFCO. “We’re thrilled to join forces with a team that shares our values and commitment to the people and communities we serve.” Mr. Mobley will continue to support the business as both an investor and a special advisor to PRT. IFCO’s seasoned executive team will also remain with the business to help drive its next phase of growth.
“As we look towards the future, combining our talent and adding over 43 years of technical expertise in nursery operations will allow PRT to significantly expand its footprint and meet our customers’ growing needs and demands,” says Mr. Fournier.
DLA Piper LLP (US) and McCarthy Tétrault LLP served as advisors to PRT. IFCO was advised by North Inlet Advisors, LLC and Coleman Talley LLP.
Business Examiner Staff
