Ultima Foods will launch its own yogurt brand in Canada and has signed an agreement with Yoplait

LONGUEUIL, QC, May 8, 2012 /CNW Telbec/ - Agropur Cooperative and Agrifoods International Cooperative Ltd. are pleased to announce their joint venture, Ultima Foods, has signed a custom processing agreement with Yoplait SAS/General Mills. This contract stipulates that Ultima Foods will be the producer of Yoplait products in Canada from now on.

In parallel with this contract, Ultima Foods will soon be launching its own brand of yogurt, for the first time in its history. This sequence of events is the result of the steadfast determination of the members of Agropur and Agrifoods to remain key stakeholders in the production and merchandising of yogurt across the country.

The signing of a custom processing agreement, combined with the launch of a new yogurt brand, forms the basis of a strategy that aims to place Ultima Foods in a position of leadership in the Canadian yogurt industry. « Today, we are turning the page, but the story continues. We are extremely pleased to continue our adventure in the yogurt industry and we plan for our new brand to be a great success », explains Agropur Chairman Serge Riendeau.

Ben Brandsema, Chairman of the Board of Agrifoods, stated: « This historic agreement will give our joint venture the ability to take full advantage of its 40 years of expertise in order to strengthen our position as a major player in such a thriving market ».

About Ultima Foods
For more than 40 years, Ultima Foods has been a leader in the Canadian yogurt and fresh dairy products industry. The Company, which has its head office in Longueuil and boasts a workforce of 750 employees across the country, is owned by dairy cooperatives Agropur and Agrifoods. Ultima operates world-class facilities, producing more than 100 million of kilograms of yogurt and fresh dairy products per year at its Granby facility, which are then distributed across the country. Having developed a true yogurt culture in Canada, Ultima Foods produces products that are adapted to the tastes and expectations of canadian consumers, and is committed to the highest standards of quality and innovation. The organization also owns and operates the Olympic dairy brand (www.olympicdairy.com).

For more information concerning Ultima Foods, visit www.ultimayog.ca, or follow us on Facebook.

About Agropur
Founded in 1938, Agropur is a leader in the Canadian dairy industry. With sales of $3.6 billion, the Cooperative is a source of pride for its 3,349 dairy producer members and 5,700 employees. Agropur processes more than 3 billion litres of milk per year in its 27 plants across Canada, the United States and Argentina. It markets an impressive line of products, including such well-known brands as Natrel, Québon, OKA, Sealtest and Island Farms.

To learn more about Agropur, visit www.agropur.com.

About Agrifoods
Agrifoods International Cooperative Ltd. is a Canadian cooperative owned by dairy producers in Alberta, British Columbia, and Saskatchewan. Agrifoods is a leading, innovative provider of premium quality dairy and food products and services and is known to be a successful, profitable and environmentally responsible cooperative.

For further information:

Natacha Gouveia
Agropur
Senior Advisor, Public Relations
Phone: [phone], ext 4559
[e-mail]

Ben Brandsema
Agrifoods
Chairman
Phone: [phone]