Science & Technology
Science and Technology
Science and Technology
Thu, June 25, 2009
Wed, June 24, 2009
Tue, June 23, 2009 Saputo Inc.: Saputo Inc. to Increase Its Presence in California by Acquiring the Activities of F&A Dairy of California, Inc.
MONTREAL, QUEBEC--(Marketwire - June 23, 2009) - Saputo Inc. (TSX:SAP) announces today that it has agreed to acquire the activities of F&A Dairy of California, Inc. F&A manufactures, sells and distributes, principally mozzarella, provolone and whey products from its facility in Newman, California, where it employs 113 employees. For the year ended December 31, 2008, it produced approximately 60 million pounds of cheese and had sales of about US$140 million.
The acquisition will be paid in cash by drawing on available lines of credit. The transaction is subject to the usual conditions and is expected to close on or about July 20, 2009. This transaction will complement the activities of Saputo Dairy Products Division (USA).
About Saputo
Saputo produces, markets and distributes a wide array of products of the utmost quality, including cheese, fluid milk, yogurt, dairy ingredients and snack-cakes. Saputo is the 11th largest dairy processor in the world, the largest in Canada, the third largest in Argentina, among the top 3 cheese producers in the United States and the largest snack-cake manufacturer in Canada. Our products are sold in more than 40 countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Danscorella, De Lucia, Dragone, DuVillage 1860, Frigo Cheese Heads, Kingsey, La Paulina, Neilson, Nutrilait, Ricrem, Stella, Treasure Cave, HOP&GO!, Rondeau and Vachon. Saputo is a publicly traded company whose shares are listed on the Toronto Stock Exchange under the symbol SAP.
