Canadian firm Saputo has signed an agreement to acquire UK-based cheese manufacturer Wensleydale Dairy Products’ activities for a 31.8m (£23m) consideration.

Saputo’s latest move is aimed at expanding its position in the UK and abroad.

Wensleydale Dairy Products manufactures, blends and distributes a wide range of speciality and regional cheeses, including Yorkshire Wensleydale cheese. Its cheese range is also exported around the world.

The business, which operates two facilities in North Yorkshire, will become part of Saputo’s Dairy Division (UK) under its Europe sector.

The deal is expected to enhance Saputo’s existing range of British cheeses, including Cathedral City and Davidstow cheddars.

Saputo Board chair and CEO Lino Saputo said: “Wensleydale Dairy Products is home to an immense amount of passion, care, and tradition.

“Not only is it a well-established British business with high-quality products and award-winning cheeses, but our corporate cultures are well-aligned, and I’m delighted to welcome the entire team into the Saputo family.”

Completion of the deal is subject to UK regulatory requirements and expected to take place in the second half of this month.

Through this deal, Saputo is set to add another UK cheese brand to its portfolio.

Wensleydale Dairy Products sources its milk from 40 local farms and uses its own cheesemaking starter cultures.

In October 2019, Saputo acquired the speciality cheese business of Lion Dairy & Drinks for $191m (A$280m) on a cash-free and debt-free basis.

The speciality cheese business operates two production facilities, which are located in Burnie and King Island, Tasmania, Australia.