BREAKING NEWS

Saputo to acquire F&A Dairy Products for $85 million

Saputo Inc. (“Saputo” or “the Company”) (TSX: SAP) announces today that it has entered into an agreement to acquire the activities of F&A Dairy Products, Inc. (“F&A Dairy Products”). Its activities are conducted at two manufacturing facilities located in Las Cruces, New Mexico, and Dresser, Wisconsin (USA). The business employs approximately 170 people.

The purchase price of US$85 million (approximately CDN$111 million), on a cash-free and debt-free basis, will be paid in cash from cash on hand and available credit facilities.

F&A Dairy Products manufactures a variety of natural cheeses, including mozzarella and provolone, which are distributed in the United States and Mexico. For the twelve-month period ended on August 31, 2018, F&A Dairy Products generated revenues of approximately US$163 million (CDN$212 million).

The acquisition of F&A Dairy Products’ activities will add to and complement the activities of Saputo’s Cheese Division (USA).

The transaction is subject to customary conditions (including regulatory approval) and is expected to close by the end of 2018.

About Saputo
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Saputo is one of the top ten dairy processors in the world, the largest cheese manufacturer and the leading fluid milk and cream processor in Canada, the top dairy processor in Australia and the second largest in Argentina. In the USA, Saputo ranks among the top three cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products. Our products are sold in several countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel*, Dairyland, DairyStar, Devondale, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait’s Go, Montchevre, Murray Goulburn Ingredients, Neilson, Nutrilait, Scotsburn*, Stella, Sungold, Treasure Cave and Woolwich Dairy. Saputo Inc. is a publicly traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”.

Read Similar Articles

0 Comments Write your comment

    1. Loading...