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Neilson Dairy Sold to Saputo www.independentfreepress.com Recipe ofTHE the week: INDEPENDENT Wheels & Car Care Spinach quiche special section Page 23 & FREE PRESS 8-Pages 50 cents (+GST) Circulation 22,500 Friday, October 24, 2008 56 Pages Halton Hills’ award-winning newspaper INSIDE Local workforce remains unchanged Neilson Dairy sold to Saputo LISA TALLYN Where did the Staff Writer downtown flowers go? George Weston Ltd. has sold its Neilson Dairy business to Saputo Inc. for $465 million. The Guelph St. Georgetown location is one of Page 7 two plants owned by Weston. The other plant is located in Ottawa and combined they employ 390 employees. Karine Vachon, a spokesperson for Saputo Inc., said under the agreed-upon deal, which is expected to close Nov. 24 subject to approval by the Competition Bureau, “Saputo will continue business as usual” at Neilson. “Work force and operations will remain the same,” said Vachon when asked if there would be any staff reductions at the Georgetown plant. Geoff Wilson, senior vice-president of George Weston Ltd., also said it was his “understanding Parenting everyone is moving over” and there would be no special impact to staff in Georgetown. According to Halton Hills Chamber of section Commerce the Georgetown plant employs 200 full-time and 150 part-time employees. 4-Pages Vachon said the “Neilson” brand would also remain the same. Wilson called the sale, “a great fit for Saputo and very good for Weston and its shareholders.” Editorial 6 “We believe this transaction allows Neilson Dairy to continue to grow under the national Calendar 10, 11 presence of Canada’s largest dairy processor,” said Entertainment 14 Wilson. Weston expects to book after-tax cash pro- Sports 15-17 ceeds of $390 million on the sale of Neilson, Classifieds 20-22 which produces an annual pre-tax operating prof- it of about $50 million. Neilson Dairy has $600 million in annual sales WEDNESDAY... of fluid milk and dairy products such as butter and yogurt, as well as juices, non-dairy creamers The 18th annual and other grocery items. Scout/Guide Food Saputo said the $465 million cash price will be Drive is set for Nov- Plucking the perfect pumpkin covered from available credit lines and additional ember 1. To find out committed financing. how you can help see Jayden Nelson, 3, of Georgetown thought this pumpkin at Allison Farms would make the Montreal-headquartered Saputo, which has Wednesday’s edition. perfect jack-o-lantern....until he tried to move it. Jayden eventually ended up downsizing. 9,200 employees in five countries, said it “will A cool, soggy summer has produced a bumper crop of the autumn gourds and various inherit Neilson Dairy’s long-term relationships For breaking news go to: farms are expected to be busy this week as families search for the great pumpkin in with its customers” as it increases its presence in www.independentfreepress.com anticipation of Halloween. Photo by Calvin Dyke the Ontario milk and cream market. REFINANCING? GEORGETOWN PURCHASING? Pre-Love conquers all. VW financing Georgetown rates from Best Certified Pre-Owned Program in ’05, ’06, ’07 & ’08. 0%0% Volkswagen For the fourth year in a row we’ve won the IntelliChoice® Best Non-Luxury % Certified Pre-Owned Program. How do we know our cars are Pre-Loved? 5.40%5 YR FIXED financingfinancing onon allall We put each of them through a 112-point inspection, checking everything APR BOB WOODS 1.9 Mortgage Specialist 203 Guelph Street from electrical systems and safety features to upholstery and bodywork. 20082008 models.models. up to 66 mos. *Rate subject to change Then we back it up with a Volkswagen 2-year/40,000 km limited warranty SeeSee usus forfor details.details. 905.877.5285 georgetownvw.com plus 2 years of roadside assistance. CALL THE GEORGETOWN 905-877-7818 or Come see for yourself. It’s one time the head and the heart will agree. HEADQUARTERS 905-877-8375 (905) 877-1490 360 Guelph St., Georgetown.
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