Schlegel buys St. Jacobs Market

Schlegel Urban Developments of Kitchener is buying the St. Jacobs Market from Mercedes Corporation which is controlled by the descendents of founder Milo Shantz.

It is the largest farmers market in Ontario and a huge tourist draw for the Waterloo Region.

The purchase includes not only the market property, but also the stockyards, a shopping mall, the TSC store property and the antique mall and bulk store beside TSC.

The market was founded by the late Milo Shantz and his brother, Ross.

They are well known in the farming community for founding Hybrid Turkeys, now owned by a Dutch company and one of two turkey-breeding companies which have virtually all of the global market.

Spokesperson Jenny Shantz said this next generation isn't "getting any younger," and the sale was a chance for the family to get out of the business.

It was also a chance for the company's 40 plus shareholders to divest of their investment "in an orderly way."

"There's a little sadness in seeing some of our involvement ebbing away, but we look back and so much has been accomplished," she told CBC News. "We've been able to see many people take ownership in the market, both as vendors and as customers, and we feel good about that."

By selling the market property, Shantz said Mercedes Corp. has sold the majority of its assets and that it would not make sense for the company to carry on as a corporation.
The company still owns many retail properties in the village of St. Jacobs, including the old mill at the corner of King Street N. and Front Street.

"I think you can expect to see us looking for buyers for those as well over the coming year," Shantz said.

James Schlegel, chief executive for Schlegel Urban Developments, said all of the staff are being kept on and the public will notice little change.


The Schlegel family is the largest holder of turkey quota in Ontario, has significant chicken-farming operations and operates a number of large and modern nursing homes..