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Saputo to purchase Ontario dairy company for $100 million


Saputo Inc. says it plans to purchase an Ontario dairy company for $100 million. Shepherd Gourmet Dairy employs about 90 people at its lone facility in St. Marys, Ont. Montreal-based Saputo says the purchase price will be paid in cash and available credit. Shepherd Gourmet makes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style yogurt in Canada. The company logged revenues of about $57 million in the year ending April 30. The transaction is subject to customary conditions and is expected to close in June.

Source: Global News


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