Saputo to purchase Ontario dairy company for $100M
St. Marys, Ont.-based Shepherd Gourmet Dairy makes specialty cheeses and Skyr Icelandic-style yogurt
MONTREAL—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.