Lactalis Canada signs deal to buy Agropur Cooperative's yogurt business
OTTAWA - Lactalis Canada Inc. has signed a deal with Agropur Cooperative to buy its Canadian yogurt business, Ultima Foods Inc.
Financial terms of the deal were not disclosed.
The agreement includes the Iogo and Iogo Nano yogurt brands, as well as the Olympic yogurt, sour cream and kefir brand.
In addition, the companies say the transaction includes yogurt production facilities in Granby, Que., and Delta, B.C., as well as the operations at a leased distribution centre in Longueuil, Que.
Lactalis Canada, formerly Parmalat Canada Inc., says it will add about 450 employees as a result of the acquisition.
The acquisition is subject to approval by the Competition Bureau.