Saputo, the largest dairy processor in Canada, has completed its $44.5 m acquisition of F&A Dairy of California, which manufactures mozzarella, provolone and whey products.
F&A Dairy of California, employs 113 employees at its facility located in Newman, California. For the year ended December 31, 2008, it produced approximately 60 million pounds of cheese and had sales of about $140m.
Saputo paid the transaction price of $44.5m in cash by drawing on available lines of credit.
The company said the acquisition, which was originally announced on June 23, will complement the activities of Saputo Dairy Products Division (USA).