Canadian company Saputo reaches agreement to acquire Wensleydale Dairy Products, the company behind Wensleydale Yorkshire cheese
The company, which will join Saputo’s Dairy Products Division (UK) under its Europe Sector, operates two facilities based in North Yorkshire and employs approximately 210 people.
The purchase price of £23 million, on a cash-free and debt-free basis, will be paid in cash at closing, Saputo said.
In a statement, Saputo said: “Wensleydale Dairy Products manufactures, blends, markets and distributes a variety of specialty and regional cheeses, including Wensleydale Yorkshire Cheese, which will complement and expand the company’s existing range of UK cheeses, including Cathedral City and Davidstow.cheddars.
“The company sources milk from 40 local farms and uses its own unique cheese starter cultures. With this strategic acquisition, Saputo is pleased to add another leading British cheese brand to its portfolio. Wensleydale Dairy Products’ range of cheeses are also exported. around the world.”
“Wensleydale Dairy Products is home to an immense amount of passion, care and tradition,” said Lino A. Saputo, Chairman and Chief Executive Officer, Saputo Inc. “Not only is it a well-established British company with -quality products and award-winning cheeses, but our corporate cultures are well aligned and I am delighted to welcome the whole team to the great Saputo family.
Subject to UK regulatory requirements, the transaction is expected to close in the second half of July 2021.
Saputo Inc. is a publicly traded company and its shares are listed on the Toronto Stock Exchange.
Saputo is one of the top 10 dairy processors in the world. In the UK, Saputo is the largest manufacturer of branded cheeses and a major manufacturer of dairy spreads.
Jonathan Simms and Kaira Clarehugh of Clarion’s corporate team advised Wensleydale Dairy Products; and Taiga Associates provided advisory services.