Nova Scotia dairy co-op Scotsburn buying Quebec-based company
by The Canadian Press
Scotsburn Co-operative purchasing Les Aliments Lebel Foods Inc. for undisclosed price, company said
SCOTSBURN, N.S.—Nova Scotia-based Scotsburn Co-operative Services Ltd. has announced an agreement in principle to purchase Les Aliments Lebel Foods Inc. of Quebec.
Scotsburn president and CEO Scott Ettinger says the purchase of Lebel will allow his company to grow as a producer and supplier of ice cream products across Canada.
Under the deal, Lebel president Gaetan Lebel will continue to oversee operations for Scotsburn at the plant in Lachute, Que., which employs 160 people.
The proposed purchase price has not been disclosed.
The final closing of the transaction is expected to take place by March.
Last week Saputo signed a $61-million deal to buy Scotsburn’s milk business.
That deal, which is subject to approval from co-operative members and regulators, is also expected to close around March.
