Sale of Scotsburn Co-operative is complete with Saputo Inc. – Cowsmo

Sale of Scotsburn Co-operative is complete with Saputo Inc.

Scotsburn Co-operative Services Limited has completed the sale of its fluid milk division in Atlantic Canada to Saputo Inc., having met the terms of the asset purchase agreement announced on Jan. 17, 2014.

Scotsburn will continue to operate its ice cream and frozen novelty business across Canada.

“This is good news for our co-operative members,” said Doug Ettinger, president and CEO of Scotsburn.

“Ice cream has been a growing and profitable part of Scotsburn’s business across Canada for many years. We are now implementing a strategy to expand this business for the benefit of our dairy producers and other Scotsburn shareholders.”

Ettinger noted that Scotsburn’s board of directors and co-operative members showed unanimous support of the growth strategy and sale of the fluid milk division. He also expressed appreciation to Scotsburn’s employees for their patience and understanding during this transition process while the sale was closed.

“We would also like to say thank you to our customers, who can continue to count on the quality of Scotsburn’s products going forward – whether it’s ice cream or frozen novelty products with Scotsburn or milk and other dairy products by Saputo,” added Ettinger.

Source: Truro Daily news

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