In the past two weeks, Agropur has also announced the acquisition of the dairy and food distribution assets of New Brunswick Northumberland Dairy Co operative and the $356 million purchase of Sobeys milk, yogurt and ice cream manufacturing operations in Western Canada.
transaction) will provide us with a larger platform to improve our performance in this area, he said.
Coallier said the acquisition puts Agropur in a stronger position because Davisco already exports its products.
Founded in 1938, Agropur processes more than 3.4 billion litres of milk a year in its Nike Air Max 90 Womens Multi Color Rainbow
dairy processing with deal for Davisco Foods assets
The Quebec based co operative said it will become the fifth largest cheese and ingredients processor in the United States.
Privately owned Davisco employs 900 workers and annually processes 1.7 billion litres of milk, making more than 170 million kilograms of cheese and 80 million kilograms of whey ingredients.
plants across Canada and the United States. It includes 3,554 dairy producer owners and 6,500 employees.
Jon Davis, CEO of the Minnesota based family run company which also operate Davis Family Dairies, said Davisco and Agropur have each been built over decades with very similar cultures.
world dairy industry is consolidating at an accelerated pace and our acquisition of Davisco supports our objective of increasing our global presence. currently accounts for 40 per cent of its revenues.
Agropur will finance the purchase that set to close Aug. 1 with cash and new credit facilities underwritten by Desjardins Capital Markets, BMO Capital Markets and Rabobank.
allows us to have a greater Air Max 90 Vt Blue
Chief executive Robert Coallier said recent acquisitions will help the development and sustainability of the co operative by diversifying its geographic markets and portfolio of products.
processing operations with a deal to buy the dairy processing assets of Davisco Foods International, its third acquisition this month.
It follows several recent transactions which together will increase Agropur annual sales to more than $5.8 billion from $3.8 billion and increase milk processing to 5.3 billion litres at 41 plants across North America.
critical mass, and at the same time, to become a more significant player in this market, he added in an interview.
over US$1 billion in annual sales, this acquisition is by far the Air Max 90 Army Camo largest transaction in Agropur 76 year history, president Serge Riendeau said Tuesday after the purchase was announced.
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