Lactalis Canada to Acquire Agropur's Canadian Yogourt Business

Transaction includes all shares of Ultima Foods Inc. and the Iögo, Iögo Nanö and Olympic brands

21-Dec-2020 - Canada

Lactalis Canada Inc. ('Lactalis Canada'), formerly Parmalat Canada Inc., a subsidiary of Lactalis Group, today announced that it has reached a definitive agreement with Agropur Cooperative to acquire all shares of its Canadian yogourt business, Ultima Foods Inc., including the Iögo and Iögo Nanö yogourt brands, as well as the Olympic yogourt, sour cream and kefir brand. The acquisition is subject to approval by Competition Bureau Canada. Financial terms of the agreement were not disclosed.

The proposed transaction expands Lactalis Canada's yogourt portfolio of iconic brands that include Astro, siggi's and Stonyfield with the addition of three highly recognizable and popular homegrown yogourt names – Iögo, Iögo Nanö and Olympic.

"As a broadly-based dairy products company in Canada, producing and supplying a wide variety of popular brands, this transaction will reinforce Lactalis Canada's position in the dairy category and will help enable key customer partners in both the retail and foodservice channels meet the growing consumer demand for yogourt products," said Mark Taylor, President & CEO, Lactalis Canada.

In addition to the brands, the transaction includes yogourt production facilities in Granby, QC and Delta, BC as well as the operations at a leased distribution centre in Longueuil, QC. Lactalis Canada will add approximately 450 employees from across the country who will join the company's existing 3,500 employees and 30 operating sites including 17 manufacturing facilities in Ontario, Quebec, Alberta and Manitoba.

The acquisition supports the country's overall dairy processing sector and the numerous communities and businesses that rely on a healthy and productive industry, while also reinforcing Lactalis Canada's important role in the Canadian dairy processing sector, long-term investment in the country and growing national footprint.

"Lactalis Canada's mission is to build on its family heritage to delight consumers with life-enriching dairy products, while making sustainable economic and social contributions that benefit its people, industry, partners and the communities in which it operates," added Taylor. "In keeping with our mission, Lactalis Canada is confident that this transaction will positively support dairy farmers, retailers, consumers and the communities of Granby and Longueuil, QC as well as Delta, BC."

https://www.yumda.com/en/news/1169229/lactalis-canada-to-acquire-agropur-s-canadian-yogourt-business.html