Saskatoon, Saskatchewan – January 31, 2019 – Golden Opportunities Fund (“Golden”) is pleased to announce an investment of $9.83 million in G-Mac’s AgTeam Limited Partnership (G-Mac’s) for its future growth strategy.
G-Mac’s is a hallmark business in Saskatchewan’s agriculture sector and has grown to be one of North America’s largest independently owned crop input retailers. Founded in 2000, G-Mac’s has grown to 9 retail locations across West Central Saskatchewan, including its corporate head office in Kindersley, and is driven by a talented 90-member team with a strong focus on agronomics. G-Mac’s currently has locations in Kindersley, Eatonia, Leader, Milden, Lucky Lake, Elrose, Rosetown, Marengo and Plenty, and continues to expand with a 10th location in Brock that is expected to open in 2019 which will further support the growth of the overall business through increased, centralized fertilizer blending capacity. G-Mac’s’ solid reputation and high degree of success has been built on establishing collaborative partnerships with farming customers to optimize their production and profitability while minimizing impact on the environment. G-Mac’s supplies customers with leading edge service, emerging science and proven technology.
The equity commitment and strategic partnership with Golden will support the completion of G-Mac’s recent expansion initiatives and further accelerate the growth of the business while ensuring it continues to be a locally-owned and managed company under the leadership of President and CEO, Garth MacDonald. “As we move to our next phase of growth, we were seeking a strategic partner that understands rural Saskatchewan and the importance of the agriculture sector, not only in the province, but globally. Golden’s long history of investing in Saskatchewan, recognizing the importance of our local culture while helping management teams execute on strategy made them the clear partner of choice,” said Garth MacDonald.
“With world demographics showing continued demand for what our Saskatchewan farmers produce and a province with the largest amount of arable farmland in Canada, agriculture companies such as G-Mac’s that focus on agronomics provide a solid investment opportunity,” said Grant Kook, President and CEO of Golden. “In G-Mac’s, we see a leader in the North American agriculture industry based right here at home, in rural Saskatchewan, a long-standing history of growth and a deep-rooted commitment to customer service and innovation across the organization”.
About Golden Opportunities Fund Inc.
Golden is the first and longest-standing Provincial Retail Venture Capital Fund in Saskatchewan founded 20 years ago. Golden makes strategic investments in high-growth sectors of the economy to maximize shareholder value. The Fund is managed by Westcap Mgt. Ltd., a leading private equity and venture capital fund manager for over 25 years that has completed over $1 billion in transactions in more than 200 growth companies. Learn more at GoldenOpportunities.ca or WestcapMgt.ca.
For more information, please contact:
Grant Kook, President and CEO
Westcap Mgt. Ltd.
830, 410 – 22nd Street E.
Saskatoon, SK
Phone: (306) 652-5557
Email: g.kook@westcapmgt.ca
Wanda Hunchak, Executive Vice President
Westcap Mgt. Ltd.
830, 410 – 22nd Street E.
Saskatoon, SK
Phone: (306) 652-5557
Email: w.hunchak@westcapmgt.ca
