VICTORIA — Pomerleau subsidiary ITC Construction Group has entered into an agreement for the acquisition of Farmer Construction Ltd., which is being described as a leading player in the residential and commercial construction sector in British Columbia.
“With ITC Group signing the agreement for the acquisition of Farmer, we are initiating a strategic partnership with a trusted local builder whose strengths and values align perfectly with ours,” said Philippe Adam, president and CEO of Pomerleau, in a statement.
“This agreement is intended to strengthen our regional footprint and bring together complementary capabilities in residential and commercial construction out west.”
This acquisition is part of ITC Group’s recent expansion initiatives, including the opening of a Toronto office and the integration of a team in Victoria. ITC already had a presence in Vancouver, Calgary and Edmonton.
According to the release, this transaction has been approved by the boards of directors of both ITC Group and Farmer and will close once approved by the Competition Bureau. Once officially approved, Farmer will continue to operate under its existing name.
ITC’s joined with Pomerleau in 2022.
