SUSSEX, NB and LONGUEUIL, QC, March 27, 2014 /CNW Telbec/ - The Boards
of directors of Dairytown Products Ltd. and Agropur Cooperative
announced today that they have concluded an agreement in principle to
merge the two organizations.
"This is excellent news for both our organizations. Our respective
vision and values gave us the opportunity to reach this agreement. This
will allow the producers of both organizations to benefit from the
advantages of being part of a large national cooperative, and to better
serve customers across the country," declared Dairytown Products Ltd.
Chairman, Jim Walker.
"This agreement is consistent with our desire to keep dairy processing
assets in the hands of producers wherever possible," said Serge
Riendeau, President of Agropur Cooperative. "It will also increase our
critical mass in the region and help secure our long-term presence in
Atlantic Canada," he added.
The two organizations should reach a final agreement within the next few
The Dairytown beneficiaries will be asked to vote on the proposed
The transaction is subject to final approval after conducting a due
diligence review and obtaining the usual authorizations, including
those of the Competition Bureau and other competent authorities.
About Dairytown Products Ltd.
Strategically located at the heart of New Brunswick's dairy farming
community and with close access to central Canada and northeast United
States, Dairytown Products is a world-class supplier of butter, skim
milk powder and custom milk powder blends. As a specialized supplier of
dairy products and ingredients to the retail, food service and further
processing trades, the company has earned an industry reputation for
products of uncompromising quality and functional performance. It
employs 189 people and has 207 beneficiaries, all of whom are New
Brunswick dairy producers.
Founded in 1938, Agropur is an important player in the North American
dairy industry. With sales of more than $3.8 billion, the Cooperative
is a source of pride for its 3,348 dairy producer owners and 6,300
employees. Agropur processes more than 3.3 billion litres of milk per
year in its 31 plants across North America and boasts an impressive
line of products that includes brands such as Natrel, Québon, OKA, iögo
and Olympic (joint venture with Ultima Foods), Farmers, Agropur
Signature cheese, Central Dairies, Agropur Grand Cheddar, Sealtest and
For further information:
Dairytown Products Ltd.
Vice President, Sales & Marketing
Dairytown Products Ltd.
Telephone: 506-432-1950, ext. 227
Director, Public Relations and Communications