Business
AGT Food and Ingredients Inc. Completes Initial Public Offering and Concurrent Fairfax Private Placement for Total Gross Proceeds to AGT of $625 million
AGT Food and Ingredients Inc. Completes Initial Public Offering and Concurrent Fairfax Private Pl...
About this update from Agt Food And Ingredients Inc
[{"type":"text","content":"\n\n\nAGT Food and Ingredients Inc. Completes Initial Public Offering and Concurrent Fairfax Private Placement for Total Gross Proceeds to AGT of $625 million\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./SYMBOL: TSX: AGTFREGINA, SK, March 8, 2026 /CNW/ - AGT Food and Ingredients Inc. (\"AGT\" or the \"Company\") (TSX: AGTF) today announced the closing of its initial public offering (the \"Offering\") of common shares of the Company (the \"Common Shares\"). The Offering consisted of a treasury offering of 18,478,212 Common Shares at a price of $23 per share (the \"Offering Price\"), for total gross proceeds to the Company of approximately $425 million, and a secondary offering of 1,065,288 Common Shares at the Offering Price, for aggregate gross proceeds of approximately $24.5 million.\nThe Company also announced the closing of its concurrent private placement to certain affiliates of Fairfax Financial Holdings Limited (\"Fairfax\") of an aggregate of 8,695,700 Common Shares (the \"Fairfax Private Placement Shares\") at the Offering Price, for gross proceeds of approximately $200 million (the \"Fairfax Private Placement\").\"Fairfax continues to be very impressed by the performance and progress made by Murad Al-Katib and the AGT team in transforming the business and building a strong global packaged foods business\", said Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited.\"Global demand for everyday foods like pasta and pulses is growing. AGT has an integrated supply chain including state-of-the-art global processing plants in five continents capable of bringing affordable plant-based packaged foods to global consumers, retailers and clients. We are excited to continue building a sustainable and profitable business as a public company with Fairfax as our partner\", said Murad Al-Katib, President and CEO of AGT.An entity controlled by OMERS Administration Cor...