Canadian dairy Agropur has made another acquisition, this time swooping to buy the dairy and food distribution assets of fellow co-op Northumberland Dairy Cooperative.
The agreement includes the Miramichi plant in New Brunswick, which processes 27m litres of milk per year, Northumberland’s distribution centres and its brands. The acquired operations have annual sales totalling C$67m (US$62.4m). Northumberland will keep its hardware and building supply operations.
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“The dairy industry is increasingly competitive in Canada and around the world,” Agropur CEO Robert Coallier said. “The co-operative movement needs to consolidate in order to stay competitive and remain an important player in dairy processing. This agreement will help us maintain our position as an industry leader and enhance our ability to serve our customers coast to coast.”
In March, Agropur announced plans to merge with Canadian peer Dairytown Products.
The company made five acquisitions in 2013, including buying Quebec brie and camembert maker Fromagerie Damafro, own-label and ingredients supplier M. Larivée International and British Columbian ice cream maker Coast Mountain Dairy.
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By GlobalData
