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Saputo to purchase Ontario dairy company for $100 million
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)
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