Generational Equity Advises Baden Feed & Supply in Sale to Turtle Mountain Seed Co.

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Baden Feed & Supply, LLC, to Turtle Mountain Seed Co. Ltd. The acquisition closed March 10, 2021.

Located in Baden, Ontario, Canada, Baden Feed & Supply (Baden) is a manufacturer of wild bird seed, caged bird seed, and pigeon feed, and also sells prepared horse, poultry, dairy, and pet food and supplies. Baden is a market leader in customized blends of premium feeds for homing pigeons and has a strong specialist reputation with dealers and retailers throughout North America.

Baden is known in the pigeon industry for having clean, top-quality feeds. The Company has developed 30 proprietary combinations of pigeon feed, and also creates over 100 custom variations of mixes to support its customer preferences, along with other related products.

Formerly Nestibo Agra, Turtle Mountain Seed Co. (TMSC) is located in Deloraine, Manitoba, Canada. TMSC was established in 1996 by 12 local producers with more than 30 years of sunflower production experience. They are the first sunflower processor in Canada to be HACCP certified by the Canadian Grain Commission. Quality testing of their products occurs prior to receiving from their suppliers and prior to shipping to their customers. Their quality assurance program ensures this happens with every shipment.

“We look forward to growing together and value the support TMSC will afford Baden as we work to retain and build on our solid supplier relationships while continuing to provide the unique quality products our customers count on from us. It is exciting to be joining forces with such a progressive, forward-thinking partner,” said Tim Scheerer of Baden.

“On behalf of all of us at TMSC we would like to welcome Tim Scheerer, Roger Scheerer and the entire Baden team to our freshly re-branded company to help us take care of the current customer base and grow into new markets,” said Robert Gunstone, TMSC Managing Director.

Gunstone is very excited to more than double the size of the current business and says, “When the opportunity came up to join the two companies, we felt it was a natural fit. With the TMSC elevator and hulling plant in the heart of ‘Manitoba Sunflower Country’ and the addition of a blending and warehousing facility in the Eastern Canadian market, we will be poised for exponential future growth.”

Baden customers will continue to receive the genuine products and services they have come to know and trust from the Baden Feeds division of TMSC. Turtle Mountain’s growth strategy is strengthened and supported by the Baden division’s recent investment in new equipment designed to increase production efficiencies and seed cleaning capacity. Staffing increases are expected in both the Baden and Deloraine facilities in the coming months as the two continue to meet the growing demand for their unique, quality products.

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Sr. Managing Director, M&A, Mike Hammer, with the support of Vice President, Mergers & Acquisitions, Corey Painter, successfully closed the deal. Senior Managing Director Joe Van Voorhis established the initial relationship with Baden.

“We all know the value of finding the right fit for a deal; in this case the value of our PROCESS was appreciated by all parties and got us to the finish line, developing a high level of trust with all involved was key,” said Hammer.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit