Lactalis Canada buys Agropur yogurt business
Some of the Iögo, Iögo Nanö and Olympic brand products. (CNW Group/Lactalis Canada Inc)
Lactalis Canada, a subsidiary of Lactalis Group, has reached a definitive agreement with Agropur Cooperative to acquire all shares of its Canadian yogurt business, Ultima Foods, including the Iögo and Iögo Nanö yogourt brands, as well as the Olympic yogurt, 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 yogurt portfolio of iconic brands that include Astro, siggi’s and Stonyfield with the addition of three highly recognisable and popular homegrown yogurt 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,” says 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.