A Canadian dairy giant is expanding it’s operations in Ontario by purchasing a St.Marys company.
Saputo has announced it has agreed to purchase Shepherd Gourmet Dairy for $100 million.
The Montreal based company says the purchase price will be paid in cash and available credit.
Shepherd Gourmet Dairy makes a variety of specialty cheeses, yogurt and other products and employs 90 people.
In the last fiscal year, the dairy logged revenues of about $57 million.
The sale is expected to be finalized in June.
By: Casey Kenny
Source: Vista Radio