Agropur brings down debt load to target level as earnings rise

The Agropur dairy co-operative has reduced its debt load to its target levels, after hitting a peak during the pandemic.

The Montreal-area-based dairy processor is reporting debt amounting to 2.4 times its earnings before interest taxes, depreciation and amortization for the fiscal year ended. Oct. 28.

In 2019, Agropur appointed CEO Émile Cordeau to the top job to lower the tides of red ink that resulted from a series of acquisitions in the 2010s.

The debt ratio climbed to a high of 8.3 times in April 2020 before falling to its current level, the first time in years the target ratio of between two and three times was achieved.