Gay Lea Foods, a Canadian dairy co-operative has decided to acquire fellow Canadian dairy firm Stirling Creamery for an undisclosed amount.
In a press release, Gay Lea Foods stated that the purchase is aimed to build upon its existing butter operations in Ontario as well as create long-term growth for the Canadian dairy industry.
Stirling Creamery is known for its range of flavoured butters encompassing Churn 84 and the Stirling brand, as well as offering spreads for foodservice applications.
Commenting on the news, Gay Lea Foods CEO Michael Barrett said: “Gay Lea Foods is committed to growing the market for Canadian dairy and we are pleased to welcome such a well-respected brand into our dairy co-operative. We look forward to new opportunities as we continue to focus on growing a strong, sustainable dairy industry that delivers innovative, market-driven dairy products”.
The acquisition is expected to be completed by the 1st of November.
Source: Gay Lea Foods