Agriculture Breaking News

The Canadian Press - ONLINE EDITION

Beretta Farms co-founder joins Sprott's One Earth Farms in friendly takeover

By: The Canadian Press

Tuesday, Feb. 19, 2013 at 7:47 AM | Comments: 0

The corporate logo of Sprott Resource Corp. (TSX:SCP) is shown. THE CANADIAN PRESS/HO

TORONTO - One Earth Farms Corp., a subsidiary of Sprott Resource Corp. (TSX:SCP), said Tuesday that it has acquired Toronto-based meat purveyor Beretta Farms Inc.

One Earth, which is building a specialized integrated food business, offers natural and organic products in fresh meat proteins, meal solutions and snack and specialty prepared meals aimed at high performance athletes.

It is developing an integrated farm-to-consumer business.

Beretta Farms sells hormone- and antibiotic-free meat products in the Toronto and Vancouver areas.

Its co-founder, Mike Beretta, will become chief operating officer of One Earth Farms.

One Earth Farms will be 54.3 per cent owned by Sprott Resources after the cash-and-stock transaction. Other financial terms were not announced.

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