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Saputo to buy Ontario dairy

Saputo Inc. says it plans to purchase an Ontario dairy company for $100 million.

Shepherd Gourmet Dairy employs about 90 people at its lone facility in St. Marys, Ont.

Montreal-based Saputo says the purchase price will be paid in cash and available credit.

Shepherd Gourmet makes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style yogurt in Canada.

The company logged revenues of about $57 million in the year ending April 30.

The transaction is subject to customary conditions and is expected to close in June.



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