DARE FOODS TO ACQUIRE CULINAR OPERATIONS
By Adnews Staff
Dare Foods Limited, based in Kitchener, ON, has entered into an agreement to acquire the cookies, fine breads and soups operations of Montreal-based Saputo's Culinar Inc. subsidiary. The deal makes Dare the second largest cookie manufacturer in Canada. Financial details were not disclosed. Following the close of the deal, expected by July 15, Saputo will hold a 21% interest in Dare Foods. Dare will continue to be a privately owned company, however. Culinar brands included in the acquisition are the Viau-McCormicks line of products including Wagon Wheels, Viva Puffs and the new Vachon Ah Caramel Cookies, the Grissol line which includes Melba Toast, Bread Sticks and Croutons and the Loney's line of dried soups. Also included in the deal are three of Culinar's Montreal bakeries and a distribution centre. Dare's products include Chocolate Fudge, Maple Leaf Creme, Simple Pleasures and Breaktime cookies and Breton and Vinta crackers.