With the goal of increasing its presence in Atlantic Canada, Canadian dairy giant Saputo has signed a deal to buy the milk business of Nova Scotia-based Scotsburn Co-operative Services for $61 million. The deal includes the sale of the co-op’s two milk processing facilities in Nova Scotia and Newfoundland that produce and sell milk, cream, sour cream, ice cream mix, and cottage cheese mostly under the Scotsburn name. The Scotsburn milk business realizes approximately $160 million in annual sales and $8 million in pre-tax profits. The deal is expected to close in March pending approval of the co-op members and regulators.
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