Toronto-based Global Food and Ingredients (GFI) Advances Expansion Plans through Big Sky Milling Inc.
Global Food and Ingredients (GFI) has recently finalized agreements concerning its newly established subsidiary, Big Sky Milling Inc., signaling a strategic move to bolster its growth initiatives.
The proceeds from these agreements are earmarked for GFI’s core ingredients division, intended to refinance existing loans and unlock liquidity, facilitating further investments in the expansion of its operations.
The genesis of Big Sky Milling Inc. dates back to August 2023 when GFI created the subsidiary as part of a previously announced planned minority investment in its pet food ingredients division with 35 Oak Holdings. The latest transactions entail raising $11.8 million through a combination of equity investment and debt for its pet food division, with an additional $500,000 investment from 35 Oak, bringing the total investment to $12.3 million.
As outlined in the agreements, GFI will transfer all assets and liabilities associated with the pet food ingredients business to Big Sky. In tandem, GFI is set to raise $3.45 million by selling 49.9% of common shares of Big Sky to 35 Oak.
Upon the completion of the pet food deal, 35 Oak will extend a $500,000 loan to GFI’s core ingredients division. The transactions are slated to conclude by the end of January, subject to regulatory approvals.
GFI, a Canadian plant-based food and ingredients company, specializes in connecting local farms to the global supply chain for peas, beans, lentils, chickpeas, and other high-protein specialty crops. With a vision to become a vertically integrated farm-to-fork plant-based company, GFI focuses on providing traceable, locally sourced, healthy, and sustainable food and ingredients. The company operates through four primary business lines: core ingredients, value-added ingredients, plant-based pet food ingredients, and downstream products. Headquartered in Toronto, GFI procures directly from its extensive network of farmers, processes products locally at its four wholly-owned processing facilities in Western Canada, and distributes to 37 countries worldwide.
