Canadian company Saputo secures agreement to acquire Wensleydale Dairy Products, the company behind Yorkshire Wensleydale cheese
The company, which will join the Dairy Products division of Saputo (UK) under its Europe segment, operates two facilities based in North Yorkshire and employs approximately 210 people.
The purchase price of Â£ 23million, on a cashless and debt-free basis, will be paid in cash at closing, Saputo said.
In a statement, Saputo said: âWensleydale Dairy Products manufactures, blends, markets and distributes a variety of specialty and regional cheeses, including Yorkshire Wensleydale cheese, which will complement and expand the company’s existing range of British cheeses, including Cathedral City and Davidstow. cheddars.
âThe company sources its milk from 40 local farms and uses its own cheese-making starter crops. With this strategic acquisition, Saputo is pleased to add another leading British cheese brand to its portfolio. The Wensleydale Dairy Products range of cheeses is also exported. around the world.”
âWensleydale Dairy Products is home to immense passion, care and tradition,â said Lino A. Saputo, Chairman and CEO, Saputo Inc. âNot only is it a well-established UK company with a quality and award-winning cheeses, but our corporate cultures are well aligned and I am delighted to welcome the entire team to the Saputo family.
Subject to British regulatory requirements, the transaction is expected to be finalized 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 10 largest dairy processors in the world. In the United Kingdom, Saputo is the largest manufacturer of branded cheeses and a major manufacturer of dairy spreads.
Jonathan Simms and Kaira Clarehugh of the Clarion Corporate Team advised Wensleydale Dairy Products; and Taiga Associates provided advisory services.