CANADA – Lactalis Canada- a subsidiary of French multinational dairy products corporation, Groupe Lactalis- has agreed to acquire all issued shares of Canadian yogurt maker Ultima Foods.
Until it is acquired by Lactalis, Ultima Foods remains a subsidiary of Agropur’s – a leading Canadian dairy cooperative.
The proposed deal includes the Iögo and Iögo Nanö yogurt brands, and the Olympic yogurt, sour cream and kefir brand.
Commenting on the development, Mark Taylor, president and CEO of Lactalis Canada. Said: “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 to meet the growing consumer demand for yogurt products”.
The agreement also encompasses yogurt production facilities in Granby, Quebec and Delta, British Columbia, as well as the operations at a leased distribution centre in Longueuil, Quebec.
Taylor further noted that his company’s mission is to build on its family heritage to delight consumers with life-enriching dairy products, while making sustainable economic and social contributions that benefit its people, industry, partners and the communities in which it operates.
“In keeping with our mission, Lactalis Canada is confident that this transaction will positively support dairy farmers, retailers, consumers and the communities of Granby and Longueuil, Quebec, as well as Delta, British Columbia,” Tailor added.
Earlier this year, a US affiliate of Groupe Lactalis agreed to acquire The Kraft Heinz Company’s natural, grated, cultured and specialty cheese businesses for US$3.2 billion.
Mid last month, the French dairy company also formally set foot in India through the launch of its popular milk brand Lactel.
Prior to the launch, Groupe Lactis already had a presence in the vast nation with over 1 billion people having acquired leading Indian dairy brands: Tirumala, Anik, and Prabhat.
Unlike in the US subsidiary, the Canadian unit has not disclosed the financial terms of the transaction, which is subject to approval by Canada’s Competition Bureau.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE