Caisse-led group invests C$300 million in Canadian dairy cooperative

Thu Dec 17, 2015 12:55pm EST
 
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(Reuters) - Canadian dairy cooperative, Agropur, received C$300 million ($214.62 million) in investment from a group of investors led by Quebec's public pension fund manager, Caisse said.

The investment comes amid concerns that a new Pacific trade deal would pressure the Canadian dairy industry by allowing more dairy imports amid slow-growing domestic consumption.

The Quebec investor group now has a total investment of C$770 million in Agropur, pension fund manager Caisse de dépôt et placement du Québec said in a statement on Thursday.

Agropur reported sales of more than C$4.7 billion in 2014 and processed more than 5.4 billion liters of milk annually at its 40 plants across North America.

Under the Trans-Pacific Partnership (TPP) trade deal, Canada will allow TPP countries, including New Zealand and the United States, limited access to its dairy market.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)