Saputo Inc. says it plans to purchase an Ontario dairy company for $100 million.
READ MORE: Australian regulator raises competition concerns over Saputo dairy deal
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.
READ MORE: Dairy giant Saputo to refuse milk from farmers that mistreat animals
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.
READ MORE: Dairy processors Saputo, Agropur lay off 346 Atlantic Canada workers
The transaction is subject to customary conditions and is expected to close in June.
WATCH BELOW: Saputo announces new animal welfare policies
Comments