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Agropur Cooperative, Longueuil, Quebec, said today its sales grew 5.1% to Cdn$3.7 billion in the fiscal year ended Nov. 3, 2012. (There were 53 weeks in Fiscal 2012 compared to 52 in 2011.) Earnings before interest, taxes, amortization and joint ventures (operating surplus) increased by $1.8 million, reaching $246.8 million for Fiscal 2012. Agropur declared $101.6 million in patronage dividends to its members spread all over the province of Québec.
"Globally, the Cooperative is in a more solid position than ever, and our operating results achieved a remarkable level again this year. This means that we have the resources that we require to pursue our growth," explained Agropur CEO Robert Coallier.
Merger of Agropur Cooperative and Farmers Co-operative Dairy Limited
On February 11, 2013, the Agropur Board of Directors announced the merging of its activities with those of Farmers Dairy, a well-known cooperative in the Atlantic Provinces. This merger is in line with Agropur's vision, which is to enhance milk processing by cooperatives for the benefit of members' milk producers.
Launch of iögo
2012 was also marked by an historic event for the organization, namely the launch of the new iögo brand, which was spearheaded by its joint venture, Ultima Foods. Initial sales results are extremely promising, and thanks to the positioning of the brand and significant investments, Ultima Foods was able to establish widespread distribution in record time.
The Cooperative continued to build on the success of recent years, launching innovative value-added health products in 2012. Agropur entered the year in full stride with the nationwide launch of Baboo, which opened up a brand new category of dairy products intended for toddlers aged 12 to 24 months, and the launch of Natrel dark chocolate milk. With respect to fine cheeses, a number of new products were introduced on the market, including the Crème de Grand Cheddar and Agropur 75, which is a washed-rind artisan cheese that is made in Oka to commemorate the Cooperative's 75th anniversary.
Founded in 1938, Agropur has 3,288 member dairy producers and 5,500 employees. Agropur processes more than 3 billion liters of milk per year at its 25 plants in North America. Its brands include Natrel, Québon, OKA, Sealtest and Island Farms. For more information concerning Agropur, visit www.agropur.com.