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Saputo buys Shepherd Gourmet Dairy

By Jim Cornall contact

- Last updated on GMT

The deal to buy Ontario specialty cheese and yogurt company Shepherd Gourmet is valued at C$100m.
The deal to buy Ontario specialty cheese and yogurt company Shepherd Gourmet is valued at C$100m.

Related tags: Cheese, Yogurt

Canadian dairy giant Saputo Inc. has entered into an agreement to acquire the activities of Shepherd Gourmet Dairy (Ontario) Inc. for C$100m (US$77.7m).

The company, which started as a sheep-milk Mediterranean-style cheese producer, is based at one manufacturing facility located in St. Marys, in southwest Ontario. The business employs approximately 90 people.

Shepherd Gourmet manufactures, markets and distributes a variety of specialty cheeses such as Feta and Ricotta, sheep milk yogurt, as well as skyr. For the twelve-month period ended on April 30, 2018, Shepherd Gourmet generated revenues of approximately C$57m (US$44.3m).

Saputo said the transaction will enable its dairy division (Canada) to increase its presence in specialty cheese and expand its yogurt offering in Canada.

The purchase, on a debt-free-basis, will be paid in cash from cash on hand and available credit facilities, and the transaction, subject to customary conditions, is expected to close in June 2018.

Related topics: Manufacturers, Cheese, Yogurt and Desserts

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