May 24, 2018 9:32 am

Saputo to purchase Ontario dairy company for $100 million

A sign at a Montreal Saputo plant is shown.


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.

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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

© 2018 The Canadian Press

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