Canadian dairy major Saputo said it has entered into an agreement to acquire the activities of the North Yorkshire-based Wensleydale Dairy Products for £23 million.
The business, which operates two facilities in North Yorkshire and employs approximately 210 people, will join Saputo’s Dairy Division (UK).
With the strategic acquisition, Saputo adds another leading and prominent UK cheese brand to its portfolio. Wensleydale Dairy Products manufactures, blends, markets, and distributes a variety of specialty and regional cheeses, including Yorkshire Wensleydale cheese, which Saputo said will complement and broaden its 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 cheese-making starter cultures. Its 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 chief executive officer at 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.”
Saputo said the deal will be on a cash-free and debt-free basis, with the purchase price £23m being paid in cash at closing, which is expected in the second half of this month.
