Agropur buys U.S. ingredient firm
Dairy co-op Agropur has acquired Main Street Ingredients, a Wisconsin-based provider of functional food products and ingredients.
Agropur, based in Longueuil, Que. says the purchase is in line with the company's strategic plans.
A purchase price was not disclosed.
Founded in 1989 in La Crosse, Wis., Main Street is known for its functional ingredients such as Keystone stabilizers, Cornerstone proteins, Gemstone bakery ingredients and Capstone dairy ingredient mixes. The company also distributes food ingredients and has technical expertise and capabilities for contract manufacturing and private-label nutritional products.
Main Street recently introduced a sodium-reduction ingredient called Soda-Lo, which it says allows food manufacturers to reduce sodium by 50% without affecting flavour.
In a release on Wednesday, Agropur said that Main Street will continue to operate under its existing name and under its current president, Bill Schmitz. He’ll report to Agropur’s VP of sales for cheese and functional products, Sylvain Melancon.
Agropur, which has sales of around $3.4 billion annually, operates 27 plants in Canada, the U.S. and Argentina. Its brands include Schroeder, Quebon, Oka, Sealtest, Natrel, Island Farms, Yoplait and La Lacteo
This is the most recent of several American acquisitions for Agropur. It bought the Schroeder Milk dairy in Minnesota in December 2008; a dairy in Grand Rapids, Michigan in September 2009; and the Green Meadows Foods cheese plant in Hull, Iowa a year ago.