Quebec dairy co-op Agropur reports that it’s still in expansion mode, having posted “new record” results in 2007.
At its annual meeting Wednesday in Montreal, the company reported 2007 earnings (before patronage dividends and taxes) of $129.7 million on sales of $2.45 billion, up from $110 million on $2.3 billion in 2006.
“Despite a fiercely competitive market, Agropur is in a strong position and more than ever the co-operative intends to pursue its development plans both nationally and internationally,” the company said in a release Wednesday.
“We believe that to remain competitive and to better serve our
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abroad,” CEO Pierre Claprood said in the same release.
During 2007 the co-op entered a joint venture with Adecoagro, a South American agri-food company, to develop new dairy business on that continent under the name Grupo La Lacteo. Last month it took another step into the U.S. market by buying Trega Foods, a Wisconsin cheese company.
The company said recently developed products such as Champfleury, Oka with mushrooms, Allégro Probio 4%, Québon Blue Raspberry Milk and a Québon chocolate milk product sweetened with Splenda, continued “to underline Agropur’s reputation as an innovator” in 2007.
Agropur, founded in 1938, is Canada’s biggest dairy co-operative, processing over two billion litres of milk annually and offering product lines including the Québon, Oka, Sealtest, Island Farms and Natrel brands.
