News Release - September 14, 1995
AGRI-FOOD EQUITY FUND INVESTS IN SCHNEIDER'S POPCORN PARTIES INC.
Agriculture and Food Minister Andy Renaud today announced the
Saskatchewan Agri-Food Equity Fund will be making an equity investment
in Schneider's Popcorn Parties Inc. of Saskatoon.
The Agri-Food Equity Fund will provide an equity investment of up to
$300,000 to aid with an expansion of the company's production and
Schneider's Popcorn Parties processes and markets candy corn as well as
popcorn seed, popcorn poppers, spices, and oil and candy flavourings.
These items are marketed through an extensive network of four corporate
offices, eight franchisees, and more than 500 distributors in eight
provinces and the Territories.
"The investment will allow Schneider's to acquire additional processing
equipment and to explore new export opportunities in Eastern Canada,
northwestern United States and Germany," Renaud said.
Schneider's head office is located in Saskatoon with facilities in
Regina, Edmonton and Winnipeg. The company currently employs eight
people. In addition, 16 people are contracted through the Saskatchewan
Abilities Council to help with various packaging needs.
The Agri-Food Equity Fund's investment will result in the employment of
at least four and possibly eight additional people with the company
within the next two years.
"As Schneider's grows so will opportunities for Saskatchewan companies
to supply raw materials such as spices and other ingredients, in
addition to packaging and shipping materials.
"The equity fund finances the start-up and expansion of Saskatchewan
businesses involved in value-added agriculture and food processing,"
Renaud said. "Schneider's Popcorn Parties Inc. is a good example of
the type of company targeted by the fund."
Colleen Schneider, company president, received the Entrepreneur of the
Year Award in 1994 for Wholesale and Distribution, Prairie Region.
That same year the company won the Saskatchewan Chamber of Commerce
Abex Award in the Marketing Division.
The Agri-Food Equity Fund was established last year to assist with the
financing of the start-up and expansion of businesses which process
agricultural products and may invest up to $20-million in Saskatchewan
companies over the next four years.
The fund is a division of the Agricultural Credit Corporation of
For more information, contact:
Lyle Bolen Colleen Schneider
Executive Manager President
Agri-Food Equity Fund Schneider's Popcorn Parties Inc.
Phone: (306) 933-7682 Phone: (306) 653-7511