The large dairy corporation Saputo has announced it will close its Saint John plant after net earnings for the company dropped 42 per cent.

The company announced the closure of the New Brunswick plant in a press release of its latest quarterly financial results.

Saputo, which distributes products under a variety of brand names, including Baxter, Cracker Barrel and Scotsburn, said the decision was made in an attempt to "right-size" operations.

The company said it will close the Saint John plant in Jan. 2021.

The company will also close a plant in Trenton, Ontario.

Between the two facilities the company said 280 employees will be affected.

Saputo said employees not offered relocation will be provided with severance packages.

The original Baxter's Dairy company, which was purchased by Saputo in 2001, has operated in Saint John since 1931.

