Saputo Acquires Pair of North Carolina Dairy Busineses for $118M

MONTREAL — Saputo Inc. announced Sept. 1 that it has completed the acquisition of the Carolina Aseptic and Carolina Dairy businesses formerly operated by AmeriQual Group Holdings, LLC. These businesses — Carolina Aseptic and Carolina Dairy, respectively — which join Saputo’s Dairy Division (USA) under its USA Sector, are conducted at two facilities in North Carolina (United States) and employ a total of approximately 230 people.

Saputo Inc.The purchase price of $118 million, on a cash-free and debt-free basis, was paid in cash at closing.

Carolina Aseptic develops, manufactures, packages, and distributes aseptic shelf-stable food products and beverages out of a purpose-built facility in Troy, North Carolina. Nearby, Carolina Dairy manufactures, packages, and distributes refrigerated yogurt in spouted pouches in Biscoe, North Carolina. The acquisition of these businesses will better position Saputo to capture the growing demand for aseptic protein beverages and nutritional snacks.

“Complementing the organic growth initiatives outlined in our Global Strategic Plan (FY22-FY25), this investment aims to reinforce the strength of Saputo’s core business by increasing our capacity to manufacture and distribute products in the rapidly growing aseptic beverage and food categories, as well as the nutritional snacks space,” said Lino A. Saputo, Chair of the Board and Chief Executive Officer, Saputo Inc.

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, 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.