October 18, 2016 - 2:59 PM
MISSISSAUGA, Ont. - Gay Lea Foods announced it has entered into an agreement to buy Stirling Creamery by Nov. 1.
The dairy co-operative, which is headquartered in Mississauga, Ont., said the purchase builds upon its existing butter operation in Guelph, Ont.
Gay Lea said the deal will give it added flexibility to further production capacity and meet customer needs in the current high-demand market for butter.
Stirling Creamery, known for its range of artisanal crafted butters, is located in the village of Stirling, Ont., about 2 1/2 hours east of Toronto.
Gay Lea said it intends to maintain full operations at the Stirling plant and preserve all relationships with existing Stirling Creamery customers, suppliers and its 25 employees.
Financial terms related to the deal have not been disclosed.
News from © The Canadian Press, 2016