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Dairytown's Producers and Beneficiaries Vote Overwhelmingly In Favour of Merger with Agropur

June 3rd, 2014

Sussex, New Brunswick and Longueuil, Quebec (Canada)

The producer-members of New-Brunswick's Dairytown Products Ltd. approved their organization's merger with Agropur Cooperative yesterday by more than a 99% majority, with a turnout of over 80%. Having obtained all regulatory approvals, the merger of the two organizations is scheduled to close on June 30, 2014.

Dairytown's Chairman, James Walker is enthusiastic about the merger and for the opportunity to build on each organization's respective strengths in Atlantic Canada. "We are pleased to join other milk producers who share our vision and values," he said.

Agropur President, Serge Riendeau declared: "This merger will allow us, as did the Farmers Dairy/Agropur Cooperative merger last year, to pool our processing assets and to keep them all in the hands of our producer-members to ensure the sustainability of our Cooperative."

Agropur CEO, Robert Coallier added: "The competitive landscape is changing. With better control of our milk supply and increased processing capabilities, Agropur will be better positioned to serve its customers at a Nation-wide level and that, for the greater benefit of its producer-owners."

About Dairytown Products Ltd.

Strategically located at the heart of New Brunswick's dairy farming community and with close access to central Canada and northeast United States, Dairytown Products is a world-class supplier of butter, skim milk powder and custom milk powder blends. As a specialized supplier of dairy products and ingredients to the retail, food service and further processing trades, the company has earned an industry reputation for products of uncompromising quality and functional performance. It employs 189 people and has 207 beneficiaries, all of whom are New Brunswick dairy producers.

About Agropur

Founded in 1938, Agropur is an important player in the North American dairy industry. With sales of more than $3.8 billion, the Cooperative is a source of pride for its 3,348 dairy producer owners and 6,300 employees. Agropur processes more than 3.3 billion litres of milk per year in its 31 plants across North America and boasts an impressive line of products that includes brands such as Natrel, Québon, OKA, iögo and Olympic (joint venture with Ultima Foods), Farmers, Agropur Signature cheese, Central Dairies, Agropur Grand Cheddar, Sealtest and Island Farms.

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