
Arctic Glacier Inc. is a leading manufacturer and distributor of premium quality packaged ice products, primarily under the brand name Arctic Glacier®
Premium Ice. We are the largest producer of packaged ice in Canada and
are among the largest producers in the United States, serving over
70,000 retail, commercial and industrial customer locations throughout
six provinces in Canada and fifteen states in the northeastern, central and western United States.
We have grown significantly since our start in 1996, primarily
through an aggressive acquisition strategy in the highly fragmented ice
production and distribution industry. We have acquired 63 packaged ice
businesses in Canada and the United States to date at a cost of more
than $470 million. These geographically contiguous acquisitions have
established our critical mass, allowing us to improve financial results
by leveraging our investments in infrastructure and brand development.
We are now the largest producer and distributor of packaged ice in each
of the markets that we operate.
We currently operate 37 production and 51 distribution facilities,
and employ more than 1,200 people year-round. Our labor force increases to
more than 2,500 employees during the summer to meet the increased
seasonal increases in demand for our products. Our current production
capacity is approximately 10,000 tons of ice per day.
We also license our trade names and proprietary technology to
independently owned companies in Canada and the United States under
franchise and license agreements.
Arctic Glacier Inc. is a wholly owned subsidiary of the Arctic
Glacier Income Fund. Fund units trade on the Toronto Stock Exchange
under the symbol AG. We have 38.9 million units outstanding, and
currently pay an annualized distribution of $1.10 per unit, at a rate of
$0.0917 per unit per month.
Our corporate headquarters are located at 625 Henry Avenue, Winnipeg,
Manitoba, R3A 0V1, which can be reached by phone at 204.772.2473 or by
fax at 204.783.9857.
| Milestones |
March 1, 1996 | 686363 Alberta Ltd. is incorporated under the laws of Alberta for the purpose of creating an entity to acquire and operate packaged ice businesses in Canada and the United States. |
May 1, 1996 | Name is changed to The Arctic Group Inc. |
March 25, 1997 | The Arctic Group Inc. completes $2 million initial public offering. |
April 9, 1997 | The Arctic Group Inc. securities are listed for trading on the Alberta Stock Exchange. |
December 31, 1999 | The Arctic Group Inc. begins trading on the Toronto Stock Exchange. |
March 22, 2002 | The Arctic Group Inc. is reorganized into an income trust, called the Arctic Glacier Income Fund, which owns all of the outstanding shares of the operating company called Arctic Glacier Inc.
Arctic Glacier Income Fund completes $86 million initial public offering. |
June 25, 2003 | Arctic Glacier Income Fund completes $25.2 million equity offering of new units. |
October 8, 2003 | Arctic Glacier Income Fund completes $50 million equity offering of new units. |
September 20, 2005 | Arctic Glacier Income Fund completes $50 million equity offering of new units. |
May 25, 2006 | Arctic Glacier Income Fund completes $50 million equity offering of subscription receipts and issues $100 million of extendible convertible debentures. |
May 25, 2006 | Arctic Glacier Inc. completes first part of US$190 million acquisition of California Ice. |
May 25, 2006 | Following successful completion of first part of acquisition, subscription receipts are exchanged for Fund units and maturity date of convertible debentures is extended to July 31, 2011. |
August 8, 2006 | Arctic Glacier Inc. completes final part of US $190 million acquisition of California Ice. |
February 1, 2007 | Arctic Glacier Income Fund completes $70 million equity offering of new units. |
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