Winnipeg Free Press - PRINT EDITION
Manitoba Cattle Enhancement Council investing in Natural Prairie Beef Inc.
The council said this morning it will invest up to $1.2 million in Natural Prairie Beef Inc., a Manitoba company that markets premium beef.
"This is the first step in a multi-phase process that will lead to developing new markets for Manitoba beef producers and moves us towards increased slaughter and processing capacity in this province," said Neil Van Ryssel, the council's vice chairman.
The investment will help Natural Prairie enlarge its operation by expanding its consortium of Manitoba beef producers, increasing its capacity to sell more Manitoba beef and developing a strong brand for its products, the council said in news release.
Natural Prairie, founded in 2004, markets beef raised with minimal antibiotics and no growth hormones. The enhancement council will receive shares in the company in exchange for its investment.
The council said its investment will help Natural Prairie expand to serve premium niche markets such as the growing kosher market in Canada and the United States.
Future plans call for the construction of a beef plant in Manitoba.
"This is a great opportunity for our company," said Kelly Penner, a Douglas area rancher and president of Natural Prairie Beef.
"Manitoba producers know how to compete on a world stage, but without access to seed capital like this we may never get the chance to develop a more vibrant provincial industry."
The cattle enhancement council administers an investment pool that is funded by a $2-per-head levy on all cattle sold by Manitoba producers.
The province is matching the levy for the first three years.
Republished from the Winnipeg Free Press print edition October 9, 2007 $sourceSection$sourcePage
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