Quebec-based dairy processor Saputo has quietly announced a plan to build a $240 million dairy processing facility in Port-Coquitlam, British Columbia.
Construction of the “state-of-the-art facility to be commissioned in fiscal 2021” was mentioned in the company’s fiscal 2018 annual report published last week. (Saputo’s 2018 fiscal year ended March 31, 2018.) The company says the plant will allow it “to better serve the market in Western Canada.”
At the same time, Saputo has entered into an agreement to sell its existing facility in Burnaby, BC for $218 million to an unnamed buyer. The sale is expected to be completed in fiscal 2019, with a lease agreement allowing Saputo to remain in the facility until the new plant in Port-Coquitlam is completed.
Saputo is also expecting to complete its $100 million purchase of Shepherd Gourmet Dairy in St. Marys, Ontario this month, noting “the acquisition will enable the Dairy Division (Canada) to increase its presence in specialty cheese and expand its yogurt offering in Canada.”