Loading articles...

Saputo to purchase Ontario dairy company for $100 million

Last Updated May 23, 2018 at 11:40 pm EDT

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.

Companies in this story (TSX:SAP)