One of Canada’s largest agricultural conglomerates has acquired Bison Transport, which has grown to become one of Canada’s largest trucking companies.
James Richardson & Sons (JRSL) and Wescan Capital Inc. announced that as of Jan. 1, JRSL acquired 100% of the issued and outstanding shares of Bison Transport Inc. and its affiliated companies.
Bison is a Winnipeg-headquartered transportation company established in 1969 by Duncan M. Jessiman. Over the years, the company has grown to become one of Canada's largest trucking companies with more than 3,700 employees and contractors operating a fleet of 2,100 tractors and 6,000 trailers throughout North America. Together with its affiliated companies, H.O. Wolding, Searcy Trucking and Britton Transport, Bison services a wide variety of multinational, national, and local customers.
Established in 1857, James Richardson & Sons is a private, family-owned and operated corporation involved in global agriculture and food processing, as well as energy exploration, transportation and marketing, financial services, insurance and real estate. Headquartered in Winnipeg, JRSL has assets and operations across Canada, the U.S. and the U.K.
Peter Jessiman, president and CEO of the Jessiman family's holding company, Wescan, said in a statement that "Bison and its employees have been like members of our family since my father established the company in 1969.”
“While we have mixed emotions, we are thrilled that we have found a buyer for Bison that shares our values of excellence and that cares for our employees and customers as much as we have over the past 51 years,” Jessiman said. “I have no doubt whatsoever that Bison will continue to enjoy tremendous success in the future as part of the JRSL family."
Following its disposition of Bison Transport and its affiliated companies, Wescan will continue to be active in real estate ownership and management.
The transfer of ownership from Wescan to JRSL will not result in any changes to Bison's operations, the companies said in a press release. Bison will continue to be headquartered in Winnipeg.
"We are excited about the opportunity to acquire Bison, which has an outstanding reputation for customer service, dependability, employee relations, and safety built over the past 51 years," Hartley T. Richardson, JRSL president and CEO, said.
"We have been a long-time admirer of Bison Transport and we are very thankful to the Jessiman family for entrusting the future ownership of Bison to our family,” Richardson added. “Bison and JRSL share many of the same values and we are pleased that Bison's senior management team have committed to continue to lead Bison and ensure that it continues to adhere to the same principles and standards of excellence and safety as it has under the ownership of Wescan and the Jessiman family."
Financial details of the transaction will not be made public, the companies said.
