Lactalis Canada acquires Agropur’s Canadian yogourt business
Transaction includes all shares of Ultima Foods Inc. and the Iögo, Iögo Nanö and Olympic brands.
TORONTO — Lactalis Canada Inc., a subsidiary of Lactalis Group, announced on Dec. 18 that it has reached a definitive agreement with Agropur Cooperative to acquire all shares of its Canadian yogourt business, Ultima Foods Inc., including the Iögo and Iögo Nanö yogourt brands, as well as the Olympic yogourt, sour cream and kefir brand. The acquisition is subject to approval by Competition Bureau Canada. Financial terms of the agreement were not disclosed.
The proposed transaction expands Lactalis Canada’s yogourt portfolio of brands that include Astro, siggi’s and Stonyfield.
“As a broadly-based dairy products company in Canada, producing and supplying a wide variety of popular brands, this transaction will reinforce Lactalis Canada’s position in the dairy category and will help enable key customer partners in both the retail and foodservice channels meet the growing consumer demand for yogourt products,” said Mark Taylor, President & CEO, Lactalis Canada.
In addition to the brands, the transaction includes yogourt production facilities in Granby, QC and Delta, BC as well as the operations at a leased distribution centre in Longueuil, QC. Lactalis Canada will add approximately 450 employees from across the country who will join the company’s existing 3,500 employees and 30 operating sites including 17 manufacturing facilities in Ontario, Quebec, Alberta and Manitoba.