TRURO – The sale of Scotsburn’s fluid milk division to Saputo was approved Wednesday during Scotsburn’s annual general meeting in Stellarton.
Jim Burrows, a dairy farmer and Scotsburn Cooperative Services member, speaks at a news conference in September. The co-op members voted unanimously Wednesday at the company's Annual General Meeting in Stellarton to approve the sale of Scotsburn's fluid milk division to Saputo. The $60-million deal was announced last week. File photo
The sale, which was announced last week for $61 million, was approved by a unanimous vote by members of Scotsburn Cooperative Services.
The agreement, however, is still subject to approval by the Competition Bureau of Canada and is scheduled to be finalized in late March.
“This is a tremendous vote of confidence in Scotsburn’s growth strategy that’s focused on ice cream and novelty products,” Jim Burrows, a dairy farmer and co-op member, said in a release. “On behalf of my colleagues on Scotsburn’s board, I would like to thank our fellow cooperative members, many of whom are also dairy farmers, for taking the time to attend this important meeting to endorse this future direction.”