Canadian dairy co-op Agropur has struck another deal to buy a local firm – this time Quebec brie and camembert maker Fromagerie Damafro, which will become part of Agropur’s fine cheese and ingredients division.
The move, announced on Friday, November 22nd was the second agreement unveiled in a week. On Monday, Agropur said it had acquired own-label and ingredients supplier M. Larivée International.
The company has also been involved in three other deals this year – the acquisitions of two Canadian companies this summer and the merger with another co-op in April.
Agropur was upbeat about the deal – secured for an undisclosed sum – for family-owned Damafro. «We are very excited about this acquisition,» Agropur chairman Serge Riendeau said. «This is a good fit which expands our presence in markets for superior-quality products in what is a fast-growing segment.»
Damafro, based in St-Damase in Quebec, makes a range of dairy products, including cheese, Greek yogurt and goat’s milk. It distributes its cheese in the US.
President Michel Bonnet said: «My family and I are delighted that Damafro is becoming part of such a solid organization. Agropur will invest in the business and build on the efforts we have made over the years.»
In July, Agropur bought British Columbian ice cream maker Coast Mountain Dairy. A month earlier, it snapped up Nova Scotia-based Cook’s Dairy. Those deals followed Agropur’s merger with local peer Farmers Co-operative Dairy in April.
Source: ADPI