Monette Group to sell 274,000 acres across Canada and U.S. to satisfy creditors

Monette Group, one of North America’s largest farming operations, will sell its entire 274,000-acre land base across Canada and the United States to repay creditors, according to a court filing released June 1 under Canada’s insolvency process.

The Saskatchewan-headquartered group held a $950M secured credit facility, dated December 2018, that matured on April 15, 2026. It entered Companies’ Creditors Arrangement Act (CCAA) protection in late April and has since drawn $26M of a new $90M debtor-in-possession facility from Scotiabank to keep operating.

Under a Sale and Investment Solicitation Process, the group will pursue land sales, recapitalization or refinancing. Its holdings span Alberta, Saskatchewan (129,000 acres), Manitoba (49,000 acres), British Columbia, Montana, Colorado and Arizona, including 61,700 acres in the United States. It has already liquidated its cattle herd to repay Farm Credit Canada.

The company sold two tracts in 2025, land near Regina for $41.18M and 17,000 acres in Montana for $47.5M, before the filing.

A court hearing to approve the plan is set for June 12, with all farmland to be listed by licensed brokers by June 29. Binding bids are due October 15, and the group has requested a stay extension to November 13 to complete the growing and harvest season.

Source: AgWeb