Gay Lea Foods acquires Salerno Dairy

Gay Lea Foods acquires Salerno Dairy

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TORONTO, Feb. 3, 2014 /CNW/ - Gay Lea Foods Co-operative Limited is pleased to announce that an agreement has been reached, effective February 1, 2014, to acquire Salerno Dairy. Salerno, a family-owned company in Hamilton, Ontario, has manufactured specialty Italian cheese for over 50 years.

"With this acquisition we are merging two of Ontario's best traditions: a farmer-owned co-operative and a family-owned business." says Chair Paul Vickers. "We are excited about the opportunities this expansion will bring." Salerno CEO Angelo Fidanza adds, "We believe Gay Lea Foods will do an excellent job of carrying forward our heritage of quality and our dedication to fine cheese."

Salerno Dairy manufactures an extensive selection of traditional Italian cheeses. Its significant repertoire of specialty products includes hard, soft, semi-soft and shredded cheese and cheese blends under the brands Salerno and Gos & Gris. From mozzarella to mascarpone, and bocconcini to pecorino, its products are widely available in retail stores and through major foodservice suppliers.

"This acquisition will allow Gay Lea to establish relationships with new customers and to build on existing partnerships with new offerings and opportunities," says Andrew MacGillivray, president and CEO of Gay Lea Foods. "This acquisition holds great promise for the years ahead."

A cheese producer since 1962, Salerno Dairy's main plant is located in Hamilton, Ontario. It has a warehouse and distribution centre in Montreal, Quebec and its Gos & Gris manufacturing plant in Hannon, Ontario. It employs 185 people among the three locations.

About Gay Lea Foods Co-operative Limited

Gay Lea Foods, founded in 1958, is Ontario's largest dairy co-operative with 1,200 members and 650 employees. Its sales in 2013 topped $560 million. It is a leader in the dairy industry and the co-operative sector, with its head office in Mississauga and six production facilities across Ontario. Its brands, Gay Lea, Nordica and Ivanhoe Cheese, have a strong presence in the retail, foodservice and industrial ingredients sectors. www.gaylea.com

About Salerno Dairy

Salerno Dairy, founded in 1962, is an Ontario company with 185 employees. It specializes in the manufacture of high quality, traditional Italian cheeses. Its brands, Salerno and Gos & Gris are well-known in the retail and foodservice markets. Salerno also imports several types of popular cheese from Italy and carries an extensive line of Italian food products for the wholesale market. www.salernodairy.com.

SOURCE Gay Lea Foods Co-operative Limited

Image with caption: "Gay Lea Foods member farm - Egger family. Milton Ontario. (CNW Group/Gay Lea Foods Co-operative Limited)". Image available at: http://photos.newswire.ca/images/download/20140131_C6848_PHOTO_EN_36096.jpg

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