Saputo buys Ontario specialty dairy company

by

Montreal-based dairy giant Saputo has announced the purchase of Shepherd Gourmet Dairy, based at St. Marys, Ontario, for $100 million.

Employing about 90 people, Shepherd Gourmet is known for its specialty cheeses, including feta, sheep’s milk ricotta, and Skyr Icelandic-style yogurt. Saputo says the purchase enables the company’s Canadian dairy division to increase its presence in specialty cheese and expand its yogurt offering in Canada.

For the twelve-month period ended on April 30, 2018, Shepherd Gourmet generated revenues of approximately $57 million. Saputo’s purchase will be funded through cash and available credit, and is expected to close in June 2018.

Wake up with RealAgriculture

Subscribe to our daily newsletters to keep you up-to-date with our latest coverage every morning.

Wake up with RealAgriculture

Please register to read and comment.

 

Register for a RealAgriculture account to manage your Shortcut menu instead of the default.

Register