Transaction involving Agropur's yogurt business
Saint-Hubert, December 17, 2020 – Agropur Cooperative today announced an agreement with Lactalis Canada inc. to sell its yogurt business. The transaction includes Agropur’s plants in Granby, Quebec, and Delta, British Columbia, the operations of the Longueuil Distribution Centre, and the iÖGO and Olympic brands.
“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 Agropur President Roger Massicotte. “We have therefore decided to divest our yogurt operations in order to pursue our growth strategy and concentrate our investments.”
“We are very proud of all we have accomplished with iÖGO and Olympic, two brands that have played an important role in growing the yogurt category in Canada,” says Émile Cordeau, CEO of Agropur. “However, Agropur’s decision to focus its efforts on its strategic segments means we must streamline our operations. We thank the dedicated employees whose tireless efforts have built iÖGO and Olympic into brands consumers trust.”
Yogurt accounts for 2% of Agropur’s milk processing volume and 3% of its sales. Under the transaction, approximately 450 employees will be transferred to the buyer. The transaction is subject to customary conditions, including regulatory approval by the Competition Bureau.
Agropur Cooperative is a North American dairy industry leader founded in 1938. With sales of $7.3 billion in 2019, the Cooperative is a source of pride to the members and employees who work together in pursuit of a shared vision: Better Dairy. Better World. Agropur has many plants across North America and boasts an impressive roster of respected brands and products, including Natrel, OKA, biPro, Agropur Grand Cheddar, Farmers, Island Farms, Sealtest, Lucerne and Québon. agropur.com
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Source Agropur Cooperative
Diep Truong [email protected] / 514 524-7348