Who Bought Stoney Creek Dairy?
Lambert purchased Stoney Creek Dairy in October 2009.
Understanding the Acquisition of Stoney Creek Dairy
The acquisition of Stoney Creek Dairy by Lambert in late 2009 marked a significant moment for the struggling dairy. This purchase aimed to revitalize the operations and secure the future of the dairy's valuable assets.
Details of the Purchase
The transaction involved a substantial investment and strategic financial aid:
| Aspect | Detail |
|---|---|
| Purchaser | Lambert |
| Acquisition Date | October 2009 |
| Total Purchase Price | $7.6 million |
| Government Aid | $260,000 (in the form of a repayable loan) |
| Acquired Assets | Trademarks, goodwill, and production equipment of Stoney Creek Dairy |
| Source | Information based on a Q government news release from October 2009 |
This acquisition, partly supported by government assistance, focused on securing the core operational elements and brand value of the dairy.
Why the Acquisition?
Stoney Creek Dairy had faced considerable challenges, primarily due to high operating costs that ultimately forced its closure. The acquisition by Lambert provided a lifeline, aiming to leverage the established brand and infrastructure under new ownership. This strategic move was intended to preserve the dairy's market presence and product line, ensuring continuity for its consumers and operations.
For more details on the context of Stoney Creek Dairy's challenges, you can refer to reports from The Hamilton Spectator: High costs forced Stoney Creek Dairy out.
