The company, which will join the Dairy Products division of Saputo (UK) under its Europe segment, operates two facilities in North Yorkshire and employs around 210 people.
The purchase price of Â£ 23 million (approximately US $ 31.9 million), on a cashless and debt free basis, will be paid in cash at closing.
Wensleydale Dairy Products manufactures, blends, markets and distributes a variety of specialty and regional cheeses, including Yorkshire Wensleydale cheese, which Saputo says will complement and expand its existing line of British cheeses, including Cathedral City and Davidstow cheddars.
The company sources its milk from 40 local farms and uses its own cheese cultures. With this strategic acquisition, Saputo said it is adding another leading and leading UK cheese brand to its portfolio. Wensleydale Dairy Products‘ range of cheeses is also exported worldwide.
âWensleydale Dairy Products is home to an immense amount of passion, care and traditionâSaid Lino A. Saputo, Chairman of the Board and Chief Executive Officer, Saputo Inc.
âNot only is it a well established UK company with high quality products and award winning cheeses, our corporate cultures are well aligned, and I am delighted to welcome the entire team to the Saputo family.
Subject to British regulatory requirements, the transaction is expected to be finalized in the second half of July 2021.