Gay Lea Foods to sell Hewitt’s Dairy to Dairy Fountain

Gay Lea Foods enters into a non-binding letter of intent to sell Hewitt’s Dairy, Hagersville, Ont., to Mississauga, Ont.-based Dairy Fountain.

Dairy Fountain is a specialty dairy processor, making a wide range of products, including kefir, ayran, sour cream and yogurts.

Proceeds from this sale will allow Gay Lea Foods to further re-invest in its core dairy operations.

“Selling Hewitt’s Dairy enables sharper focus on our co-operative’s business strategy, strengthens our already strong balance sheet, and creates opportunity for future investment in other areas of our business,” said Suzanna Dalrymple, president and CEO, Gay Lea Foods.

Gay Lea Foods is making a several million-dollar investment to expand its Hamilton cheese-making facility, which makes a range of traditional European cheeses.