TORONTO — Lactalis Canada Inc. (formerly Parmalat Canada Inc.) has reached a definitive agreement with Agropur Cooperative to acquire all shares of its Canadian yogurt business, Ultima Foods Inc.
The proposed transactions includes the iÖGO and iÖGO Nanö yogurt brands, as well as the Olympic yogurt, sour cream and kefir brand. This would expand Lactalis Canada’s yogurt portfolio, which currently includes brands such as Astro, siggi’s and Stonyfield.
“Current market conditions, increasingly aggressive competition and our desire to streamline our business model have prompted us to focus on our most strategic lines of business,” says Roger Massicotte, president, Agropur. “We have therefore decided to divest our yogurt operations in order to pursue our growth strategy and concentrate our investments.”
“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 yogurt products,” says Mark Taylor, president & CEO, Lactalis Canada.
The transaction also includes yogurt-production facilities in Granby, Que. and Delta, B.C., as well as the operations at a leased distribution centre in Longueuil, Que.
The acquisition is subject to approval by Competition Bureau Canada. Financial terms of the agreement were not disclosed.
The proposed transactions includes the iÖGO and iÖGO Nanö yogurt brands, as well as the Olympic yogurt, sour cream and kefir brand. This would expand Lactalis Canada’s yogurt portfolio, which currently includes brands such as Astro, siggi’s and Stonyfield.
“Current market conditions, increasingly aggressive competition and our desire to streamline our business model have prompted us to focus on our most strategic lines of business,” says Roger Massicotte, president, Agropur. “We have therefore decided to divest our yogurt operations in order to pursue our growth strategy and concentrate our investments.”
“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 yogurt products,” says Mark Taylor, president & CEO, Lactalis Canada.
The transaction also includes yogurt-production facilities in Granby, Que. and Delta, B.C., as well as the operations at a leased distribution centre in Longueuil, Que.
The acquisition is subject to approval by Competition Bureau Canada. Financial terms of the agreement were not disclosed.
