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AGI Announces Strategic Addition to Food Platform
AGI Announces Strategic Addition to Food Platform Canada NewsWire WINNIPEG, July...
About this update from Ag Growth International Inc.
[{"type":"text","content":"\n\n\n\nAGI Announces Strategic Addition to Food Platform\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, July 26, 2018\n\n\n\nWINNIPEG, July 26, 2018 /CNW/ - Ag Growth International Inc. (\"AGI\") (TSX: AFN) is pleased to announce it has acquired the Sabe Group Companies (collectively, \"Sabe\"), a provider of processing solutions to the food, pet food, animal feed, fertilizer and biomass industries. Based in Chauché, France, Sabe sales and adjusted EBITDA in its most recently completed fiscal year were approximately €16.4 million and €2.5 million, respectively.\n\nSabe serves a global client base and has a turnkey approach that typically involves engineering, project management, manufacturing of equipment, and installation.  Sabe joins Mitchell Mill Systems and Danmare as recent additions to AGI's growing Food platform.  AGI is proud to welcome Arnaud Meynial and the entire Sabe team to the AGI family.\n\nCompany Profile\n\nAGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain, and feed systems with a growing platform in providing equipment and solutions for food processing facilities.  AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, South Africa and Italy and distributes its product globally.\n\nFurther information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI's website www.aggrowth.com.\n\nNON-IFRS MEASURES\n\nFinancial information relating to Sabe is prepared in accordance with French generally accepted accounting principles (\"French GAAP\"), which differ in some material respects from IFRS, and accordingly may not be comparable to the financial statements of AGI or other Canadian public companies.\n\nReferences to \"adjusted EBITDA\" are to the unaudited earnings before income taxes, finance costs, depreciation and amortization of Sabe and include normalization adjustments primarily for certain one-time events,...