BISMARCK, N.D. (AP) -- A Canadian food processing and grain handling company is offering to buy Dakota Growers Pasta Co. of Carrington for about $240 million.
Viterra Inc.'s board of directors approved the offer Wednesday. The company is based in Calgary, Alberta, and has operations in the western United States, Australia and New Zealand.
Dakota Growers is the nation's third-largest pasta producer. It has factories in Carrington and New Hope, Minn.
Dakota Growers chairman Jack Dalrymple (DAL'-rim-puhl) says the Dakota Growers board is recommending that the offer be accepted. Dakota Growers has about 1,000 shareholders.
Viterra is offering $18.28 a share for Dakota Growers' common stock and 10 cents a share for a special class of preferred stock.