The 53,000 square foot state-of-the-art facility will significantly increase Drake Meat’s production capacity by approximately 8-million kilograms of product annually.
To support construction of the new meat processing plant, there will be financing with Farm Credit Canada and equity proceeds from an investment group led by the Golden Opportunities Fund. With Golden’s investment, Drake’s leadership team will focus on continued growth, and the Ediger family will remain a major shareholder of the compnay.
The news release from Drake Meats and Golden Opportunities fund did not contain a time frame did not contain a time frame for the construction of the processing plant.
The official news release is below:
SASKATOON, SK, May 20, 2025 /CNW/ – Golden Opportunities Fund Inc. (“Golden“) is pleased to announce the completion of an equity investment in Drake Meat Processors Inc. (“Drake” or the “Company“). The investment is led by Golden with participation from Farm Credit Canada Capital (“FCC Capital“) and a group of strategic local investors. Proceeds from the equity raise will be used to support the construction of a new 53,000 square foot state-of-the-art meat processing facility in Saskatoon, Saskatchewan capable of producing over 8.0 million kilograms of product annually. The new facility’s technology advancements will include a state-of-the-art tempering room, an automated bacon line, an automated injection system and natural gas smokehouses.
Founded in 1949 as a co-operative meat locker in Drake, Saskatchewan, Drake is a fourth generation, family-owned consumer-packaged meat company with a vast product suite including sausage, bacon, hams, jerky and deli meats. Under the leadership of the CEO, Kelly Ediger, Drake has transformed from its humble beginnings as a small-town meat locker into a household consumer brand. The Company’s products are offered in major grocery chains across Western Canada including Costco, Federated Co-op stores, Loblaws, Walmart, Sobeys and Save-On-Foods.
Drake has a strong reputation and an unwavering commitment to crafting premium quality products that people love and proudly share with their family and friends. Staying true to its origins, Drake utilizes prime cuts of pork and beef, unique blends of spice that are handed down and perfected over generations, and natural hardwood smoke to deliver exceptional products.
The construction of the new state-of-the-art facility in Saskatoon will significantly increase Drake’s production capacity by approximately 8.0 million kilograms of product annually, to meet the continued demand of the Drake brand across Canada. Furthermore, this expansion is expected to create up to 200 new local jobs once fully operational.
With Golden’s investment, Drake’s leadership team will be able to focus on continued growth, and the Ediger family will remain a major shareholder of the Company. “The construction of our new facility is a tremendous milestone in the growth story of Drake. We are passionate about our craft and sharing it with others, and we are excited to partner with FCC Capital and local capital partners like Golden who have a long-standing record of successfully growing companies.” said Kelly Ediger.
Grant J. Kook, President and CEO of Golden states, “We are thrilled to invest in yet another long-standing, Saskatchewan success story like Drake. Our investment will support Drake’s growth initiatives, local job creation and capital investment here in the Saskatchewan economy at a time when supporting local is more important than ever.”
About Golden Opportunities Fund Inc.
Founded over 25 years ago, Golden is the first and longest-standing Provincial Retail Venture Capital (“RVC”) Fund in Saskatchewan. Golden makes strategic investments in high-growth sectors of the economy to maximize shareholder value.
Learn more at https://goldenopportunities.ca/
About Drake Meat Processors Inc.
Drake is a fourth generation, family-owned consumer-packaged meat company headquartered in Drake, Saskatchewan.
Learn more at https://www.drakemeats.com/
