MONTRÉAL, QUEBEC — On May 25, Saputo Inc. announced two strategic acquisitions in each of the dairy alternatives and value-added ingredients segments, representing a combined investment of approximately $155 million USD.
Bute Island Foods Acquisition in Dairy Alternative Cheese
The company has completed the acquisition of Bute Island Foods Ltd., an innovative manufacturer, marketer and distributor of a variety of dairy alternative cheese products for both the retail and foodservice market segments under the award-winning vegan Sheese brand, alongside private label brands. The business is located on the Isle of Bute, off the West Coast of Scotland (United Kingdom) and employs approximately 180 people, including its founders.
“We are delighted to welcome the Bute Island Foods team and the wealth of knowledge they bring to our global family. Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers. This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities,” said Lino A. Saputo, Chair of the Board and Chief Executive Officer, Saputo Inc.
Supporting the communities where it operates, Saputo is also proud to pledge more than $4.15 million USD over five years to support local Bute Island community initiatives.
Reedsburg Facility Acquisition in Value-Added Ingredients
Additionally, Saputo has acquired the Reedsburg facility of Wisconsin Specialty Protein, LLC. This facility located in Reedsburg, WI manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders and it employs approximately 40 people. This transaction closed at the end of May and will enable Saputo to broaden and increase the value of its ingredients offering, enhancing its portfolio in the United States and internationally.
These two acquisitions are in line with and will contribute favorably to Saputo’s new global strategic plan objectives to be presented in the Company’s year-end disclosures and during its year-end earnings webcast on June 3, 2021. To learn more, visit www.saputo.com/en/investors/calendar-of-events.
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 10 dairy processors in the world, a leading cheese manufacturer and 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. In the United Kingdom, Saputo is the largest manufacturer of branded cheese and a top manufacturer of dairy spreads. Saputo products are sold in several countries under market-leading brands, as well as private label brands. Saputo Inc. is a publicly-traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”.