Lactalis Canada, a subsidiary of French dairy giant Lactalis, has announced the acquisition of yoghurt and fresh dairy firm Ultima Foods from Agropur Group.
According to the company, the transaction includes all shares in Ultima Foods, and the Iogo, Iogo Nano, and Olympic brands as well as yoghurt production facilities in several locations.
With the acquisition, Lactalis Canada will add 450 employees to its workforce of 3,500 employees operating in 30 facilities across the country.
Mark Taylor, president & CEO of Lactalis Canada, commented: “As a broadly-based dairy products company in Canada, producing and supplying a wide variety of popular brands, 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 meet the growing consumer demand for yogourt products”.
Financial terms of the agreement were not disclosed.