Saputo Inc. said it entered into an agreement to acquire the activities of Wensleydale Dairy Products Ltd. The business, which will join Saputo Inc.’s Dairy Division (U.K.) under its Europe Sector, operates two facilities located in North Yorkshire, England, and employs approximately 210 people.
The purchase price of approximately CDN$39 million, on a cash-free and debt-free basis, will be paid in cash at closing, Montréal-based Saputo Inc. said.
Wensleydale Dairy Products manufactures, blends, markets and distributes a variety of specialty and regional cheeses, including Yorkshire Wensleydale cheese, which will complement and broaden the company’s existing range of British cheeses, including Cathedral City and Davidstow cheddars. The business sources its milk from 40 local farms and uses its own unique cheesemaking starter cultures, Saputo Inc. said. Wensleydale Dairy Products’ range of cheeses is also exported around the world.
“Wensleydale Dairy Products is home to an immense amount of passion, care and tradition,” said Lino A. Saputo, chair of the board and CEO, Saputo Inc. “Not only is it a well-established British business with high-quality products and award-winning cheeses, but our corporate cultures are well-aligned, and I’m delighted to welcome the entire team into the Saputo family.”
Subject to U.K. regulatory requirements, the transaction is expected to close in the second half of July 2021, Saputo Inc. said.