ITC acquires Farmer Construction

Key Takeaways:

• ITC Construction Group has acquired Farmer Construction, expanding its presence in B.C. and strengthening its reach into the Vancouver Island market.
• Farmer Construction, founded in 1951, will continue operating under its existing leadership and staff while gaining access to ITC’s resources and support.
• ITC says the acquisition reflects its strategy of “growing with purpose” by partnering with companies that share its values of quality, integrity and community-building.

The Whole Story:

ITC Construction Group has acquired Farmer Construction, a long-standing Vancouver Island builder with more than 70 years of experience in the industry.

The deal expands ITC’s footprint in B.C., where it specializes in high-rise residential and mixed-use developments. Farmer, founded in 1951, is known for its commercial, institutional and residential projects across the Island.

ITC president Brad Burnett said the move reflects the company’s focus on “growing with purpose” and aligning with firms that share its values.

“Farmer Construction has a remarkable legacy, we are honoured to be able to support their mission and growth into the future,” he said in a statement.

Farmer will continue to operate under its current leadership and staff, while gaining access to ITC’s resources and support. Both companies emphasized that the acquisition will provide continuity for clients while creating opportunities for expansion.

Founded in 1983, ITC has delivered numerous high-rise and mixed-use projects in B.C. and beyond, and has emphasized sustainability and community-focused construction through its Building Communities initiative.

The 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, complementing its existing presence in Vancouver, Calgary and Edmonton. With over 70 years of experience, Farmer will enhance ITC Group’s ability to deliver large-scale projects across Western Canada.

Farmer Construction boasts a portfolio of remarkable and award-winning projects. They led the development of the Poet’s Cove Resort on Pender Island, earned acclaim for their innovative FP Innovations wood-laboratory at UBC, and restored the heritage Young Building at Camosun College—receiving multiple heritage awards. They also were involved in the reconstruction of the Vancouver Island Regional Correctional Centre.

Farmer Construction recently broke ground on Harris Green Village, the largest housing project in Victoria ever. It includes two residential towers, a six storey podium, community amenities and more. Other current projects include Claude Residences, Spencer Block and 1901 Jerome.

Farmer Construction describes itself as a traditional contractor, not simply a “broker”.

“We have the knowledge and experience to work cooperatively with an owner’s consultant and architect from project conception to completion proposing cost saving options where available while retaining the project’s original vision,” says the company website. “We use our own skilled trades labour to better control the critical path of the project schedule and quality of work.”

ITC itself is no stranger to acquisitions. In July 2022, Pomerleau completed the largest acquisition in its history by purchasing ITC. The strategic move significantly expanded Pomerleau’s coast-to-coast reach and residential construction capacity, backed by $150 million investment from the Caisse de dépôt et placement du Québec (CDPQ), which helped fuel the acquisition and supported the company’s pan-Canadian growth ambitions.