Dairy Processing
As new consumer preferences and dietary needs change, there’s one thing that can’t be denied: Canada’s dairy industry is intrinsically tied into the culture of the country.
As Canada’s second-largest food manufacturing industry, roughly 10,000 dairy farms contribute to more than $16 billion to the country’s GDP each year. This translates to more than 9.2 billion litres of milk from 500 processing plants across Canada.
But as with many industries across Canada, the dairy processing industry is in a bit of flux. The existing quota system has forced many producers to branch out into niche spaces to increase their profitability, and changes in trade regulations are coming in the near future.
By taking a holistic look at the industry, the market, and the people that keep it running, MNP’s Dairy Processing service line helps our clients ensure they’re flexible, adaptable, and knowledgeable to prepare for whatever the future might hold.
How we can help
Corporate finance and integration
The full value chain knowledge MNP’s team brings to clients enables them to better understand the market as a whole and helps assess their individual situation to appropriately find finance buyers or sellers for integration. Long-term sustainability will look different for each company but exploring the options available ensures informed decision
Consulting
Whether clients are looking to boost profitability, better understand modelling and projections, or assess how government or marketing input changes might affect their bottom line, MNP advisors take a fulsome approach. By analyzing the business, using benchmarking to determine how they stack up, and finding areas for improvement, we work closely with clients to determine their unique needs and develop a plan to meet goals.
Performance improvement
A volatile economy has forced many in the dairy processing industry to put their plans on hold. But unlocking your full potential doesn’t have to wait. From optimizing business processes and resource investment to aligning organizational objectives and strengthening internal controls, MNP’s Performance Improvement team helps create lasting efficiencies to allow for, and even promote, growth.
Market trends
Here are some key trends happening in the dairy processing industry today:
- Government allowances as it relates to the quota system.
- Artisanal, locally made products, dairy alternatives, and organic/sustainable operations.
- Environmental, Social, Governance (ESG) commitments and preparing for regulatory reporting requirements.
Staying on top of this evolving market isn’t something dairy processors need to do alone. MNP’s team specializes in catering our approach to your needs and taking the guess work out.
Insights
-
October 03, 2023
How to increase profit margins in your craft brewery
Exploring new opportunities to increase your brewery’s profitability comes down to a few simple assessments and adjustments that can go a long way to improving your chances of ongoing and long-term success.
-
Performance
June 01, 2023
Five strategies to navigate the economic headwinds facing food and beverage processors
Against the backdrop of an uncertain economy, we assess how food and beverage businesses can improve operational efficiency, manage costs, and increase profitability.
-
Performance
May 30, 2023
How food and beverage businesses can navigate today’s fragile supply chain
These seven strategies can help your food and beverage business overcome the challenges caused by today’s unpredictable supply chain.
Contact Our Food and Beverages Processing Team
Glenn Fraser CPA, CA, MBA
Senior Vice President, Private Enterprise
Glenn is a member of MNP’s Private Enterprise team in Toronto. Glenn brings more than 25 years of experience to his role proactively serving privately held and owner-managed businesses in a variety of industries. In addition to assurance and tax compliance, he helps clients with business strategy, financing, tax strategy, and succession planning.
Prior to his current role, Glenn was the Vice President and National Leader of MNP’s Food and Beverage and Cannabis team. Glenn was also a member of the Firm’s Board of Directors from 2015 to 2022.
Glenn is an active community volunteer with a long history of board appointments with several charities, including Childhood Cancer Canada, where he served as board chair for more than a decade.
Glenn earned a Master of Business Administration (MBA) from York University. He is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA).