Canadian company says cheese with £23m deal for Wensleydale

Wensleydale

Montreal-based Saputo, one of the world’s largest dairy processors has bought Wensleydale Dairy Products for £23m (CDN$39m).

The deal will see Wensleydale which has two facilities in North Yorkshire and employs c.210 people join the Canadian firm which also has operations in Australia, Argentina, the United States and the United Kingdom and makes brands including Cathedral City cheese as well as butter brand Country Life and dairy spread Clover.

The deal which is subject to regulatory requirements, is expected to close later this month and is said to “complement and broaden” the company’s existing range of British cheeses.

Lino A. Saputo, chair of the board and chief executive officer at Saputo said:“Wensleydale Dairy Products is home to an immense amount of passion, care, and tradition, mot only is it a well-established British business with high-quality products and award-winning cheeses, but our corporate cultures are well-aligned, and I’m delighted to welcome the entire team into the Saputo family.”

Wensleydale Dairy Products was formed after an MBO from Dairy Crest in 1992 and is widely known as The Wensleydale Creamery, however Wensleydale cheese production can trace its roots back to the 1300s when French Cistercian monks settled in the area.

The firm currently produces a range of speciality and regional cheeses with milk sourced from 40 local farms and garnered worldwide attention after Wallace (from Wallace and Gromit) declared it to be his favourite cheese in the 1995 film ‘A Close Shave’

A spokesperson for Wensleydale said: “The shareholders and directors of Wensleydale Dairy Products are delighted to be able to announce this sale. Following the creation of the business in 1992 we are immensely proud of the journey over the last 29 years and would like to express our gratitude to all of the staff – many of whom have been with us throughout its existence. We are now equally proud to be handing over the reins to Saputo, and are confident that they will continue to build upon the legacy built by, our sadly departed, former MD David Hartley.”

Jonathan Simms and Kaira Clarehugh of Clarion’s corporate team advised Wensleydale Dairy Products; and Taiga Associates provided advisory services.

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