Agropur Acquires Lactel Assets for $160M

On December 6, 2000, Agropur Cooperative (Agropur), Canada’s largest dairy co-op, acquired the assets of Lactel Group, Lactel Group and Company, Limited Partnership and all the shares of Lactel International Inc. (Lactel), for approximately $160 million in cash and shares. The asset sale was not structured as a merger.

Lactel, owned by six co-operatives representing nearly 2,000 producers, has 700 employees, annual sales of $300 million and four plants in Quebec. It was Canada’s first dairy product exporter. Agropur has 16 plants in four provinces and 2,700 employees. With the conclusion of the transaction, Agropur’s annual sales will total approximately $1.8 billion.

Fasken Martineau DuMoulin LLP acted as counsel for Agropur, with a team led by Yvon Martineau and Sylvie Bourdeau, assisted by François-Bernard Poulin and Catherine Isabelle. Rita Lc de Santis and Laurence Detière of Davies Ward Phillips & Vineberg LLP acted for Lactel Group, Limited Partnership.


Yvon Martineau Laurence Detière Rita Lc de Santis Catherine Isabelle François-Bernard Poulin Sylvie Bourdeau


Fasken Martineau DuMoulin LLP Davies Ward Phillips & Vineberg LLP