On December 6, 2000, Agropur Cooperative (Agropur) acquired the assets of Lactel Group, Lactel Group and Company, Limited Partnership and all the shares of Lactel International Inc. (Lactel), for approximately $160 million in cash and shares.

Lactel, owned by six co-operatives representing nearly 2,000 producers, has 700 employees, annual sales of $300 million and four plants in Quebec. It was Canada's first dairy product exporter. Agropur has 16 plants in four provinces and 2,700 employees. With the conclusion of the transaction, Agropur's annual sales will total approximately $1.8 billion.

Fasken Martineau acted as counsel for Agropur, with a team led by Yvon Martineau and Sylvie Bourdeau, assisted by François-Bernard Poulin and Catherine Isabelle.