Saputo To Acquire Shepherd Gourmet Dairy For $100 Million

Saputo To Acquire Shepherd Gourmet Dairy For $100 Million
Saputo To Acquire Shepherd Gourmet Dairy For $100 Million (Saputo)

Montreal-based Saputo Inc. says it has entered into an agreement to purchase Ontario’s Shepherd Gourmet Dairy for $100 million.

Shepherd Gourmet Dairy employs approximately 90 people at its manufacturing facility located in St. Marys, Ontario.

Saputo says the purchase price of $100 million will be paid in cash and from available credit.

Shepherd Gourmet makes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style yogurt in Canada.

In the year ending on April 30, 2018, Shepherd Gourmet generated revenues of approximately $57 million.

The transaction is subject to customary conditions and is expected to close in June.

Saputo is one of the top ten dairy processors in the world.

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