Saputo Acquires Company for $100 M
From: Food in Canada
Montreal – One of Canada’s largest dairy processors has acquired Shepherd Gourmet Dairy (Ontario) Inc. of St. Mary’s, Ont.
Saputo Inc. announced in a statement that it acquired the cheese and yogurt producer for $100 million. The transaction is expected to close in June 2018.
Shepherd Gourmet Dairy says it uses traditional methods to craft sheep-, goat- and cow’s-milk feta cheeses and sheep-milk ricotta and yogurt.
The company’s newest line is SKYR Icelandic style yogurt, a rich, no-fat yogurt that is high in protein and low in sugar.
The company also says it sources milk from dairy farmers that are within an hour of its plant. And the company looks to partner with those who take the best care of their animals.
The statement says Shepherd Gourmet generated revenues of approximately $57 million for the 12-month period ended on April 30, 2018.
Saputo says the acquisition increases the company’s presence in specialty cheese and expand its yogurt offering in Canada.