Acquisition expands Agropur’s ingredient portfolio
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LONGUEUIL, QUEBEC – The dairy cooperative Agropur has acquired the dry ingredients blending business of Foremost Farms USA, Baraboo, Wis. Foremost’s dry blending business includes brands such as Reddi-Sponge, PZ-44, Econo Bake, Dairy Bake, Nutrimix and Baker’s Special. Terms of the agreement were not disclosed.
“The ingredients business is an important sector for the future growth of our organization in the U.S., and this investment, which is in keeping with Agropur’s strategies, will allow us to grow in the baking and blending industry,” said Robert Coallier, chief executive officer of Agropur.
The newly acquired brands will become a part of Agropur’s Main Street Ingredients business unit. With sales of $3.6 billion annually, Agropur processes approximately 7 billion lbs of milk per year in 25 plants across Canada and the United States.