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is ripe for consolidation and that could impact Canada positively. "The key thing in that business that may drive M&A is the world is getting smaller, with shrinking distance between pro- ducer and consumer — globalization and world population shifts — think of the food business as a long continuum starting with biotech, leading to seed production, leading to crop inputs and that's where you see some activity in Canada in fertilizer in terms of potash," explains Woollcombe. What follows fertilizer is crop pro- duction with private farms, the big "protein producers" including pork and beef, and commodities handling com- panies. From there you get into food processing with companies such as Kraft, and then retail. "We've certainly seen M&A in the crop input sector, commodities handling, and in the food producers," says Woollcombe. Agrium Inc., a Calgary-based pro- vider of agriculture products, is a com- pany looking to be a global player and it has been seeking out global acqui- sitions, says Woollcombe. "Canadian companies like Agrium compete on a global basis. They have continued to extend their international reach with deals like the acquisition of the AWB North America has become extremely competitive, it has the best potash in Saskatchewan and cheap natural gas which is changing our dynamic. We see as much growth potential in North America as we do outside," says Leslie O'Donoghue, chief legal officer and senior vice president of business devel- opment at Agrium. "The world has changed for us on the manufacturing side in terms of where the next nitro- gen or potash facility is going to be. We just announced a $1.5-billion project in Saskatchewan where we're expanding our potash mine." Agrium began as a small nitrogen player and as it grew, it grew domesti- cally and into the United States with some major acquisitions over the last Canadian companies like Agrium compete on a global basis. They have continued to extend their international reach with deals like the acquisition of AWB in Australia in late 2010. It's hard not to feel good about a Canadian company whose mantra is feeding a growing world. David Woollcombe, MCCARTHY TÉTRAULT LLP (Australian Wheat Board) in Australia in late 2010. It's hard not to feel good about a Canadian company whose mantra is feeding a growing world." The company is looking for places to manufacture and sell its product at the lowest cost. "Over the last five years few years on the retail side. "We still feel there is lots of room for growth in North America," says O'Donoghue. "We're in a fairly volatile time from a macroeconomic perspective with Europe, but when you really look at our industry and the population When you need a law firm that's plugged into your business... Your lawyer. Your law firm. Your business advisor. BennettJones-1_IH_Dec_11.indd 1 INHOUSE FEBRUARY 2012 • 11-11-25 10:29 AM 21