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Shur-Gain Acquires Scotia Rainbow in Arichat, N.S.

ARICHAT, NS – Shur-Gain announced
today that it has acquired some of the assets of Scotia Rainbow in Arichat,
Nova Scotia. The purchased assets include a marine site and fish processing
plant in Arichat and three seedstock sites in St. Peters, Nyanza and Loch Bras
d’Or, Nova Scotia. Details of the transaction are not being disclosed. Closing
is subject to due diligence and regulatory approval.

Scotia Rainbow’s primary business is the
production and sale of steelhead trout and currently employs approximately 150
people. The facilities will be operated business as usual until the end of next
fall’s harvest. Shur-Gain will review the business and its future potential
while providing continued employment over the next six to 12 months.

“Shur-Gain believes there is tremendous
potential in the aquaculture industry in Nova Scotia and we will be evaluating
the business and looking at future potential,” said Paul Primeau, Vice
President for Shur-Gain’s Atlantic Region.

Shur-Gain is Canada’s leading feed company
with 16 feed mills in Eastern Canada and the U.S.A. and a strong dealer
franchise system serving livestock and poultry producers. Sister company
Landmark Feeds operates 8 facilities in western Canada giving Maple Leaf
national coverage in the livestock and poultry feed business. For more than 60
years, Shur-Gain has supported its feed products through active research and
development in the areas of nutrition, health and feed quality.