Paul Martin's Business Update - September 12th, 2014

Another Saskatchewan company has caught the eye of a major American player.

Saskatoon-based Bioriginal Food and Science has been purchased by Omega Protein which is listed on the New York Stock Exchange for a little over $75 million.

Bioriginal is a global leader in the essential fatty acid industry, supplying ingredients to the health food sector with operations on several continents. The acquisition gives Omega Protein longer reach into the human consumption market, supplementing its animal feed supply operation.

Bioriginal is a unique Saskatchewan company. Originally founded by an American who brought his Harvard MBA to Saskatoon because this was the best place in the world to grow borage seed for the health food industry, the company was acquired by management and local investors a couple years ago. Now it has gone full circle and back in American hands.

The company will operate as a wholly-owned subsidiary so we will likely see little difference in its local presence as the new owners will retain the name and management team. All that will change is the name on the firm’s share certificates.

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