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."
