Breaking News on Food & Beverage Development - North America

Saputo completes cheese acquisition

22-Apr-2005

Related topics: Dairy-based ingredients, Business

Canadian dairy processor Saputo earlier this week completed its acquisition of Fromage Cote and Distributions Kingsley.

The transaction - originally announced on 18 March - was worth C$52.9 on a debt-free basis for the manufacturing, marketing and distribution activities of the privately-held company.

Fromage Cote and Distributions Kingsley make pressed cheddar and cheddar cheese curd, Swiss-type cheese and other specialty cheeses, which are sold under the brand names Kingsey, Princesse, Sir Laurier d'Arthabaska and Du Village de Warwick.

 

They employ approximately 400 people in Quebec at their plants in Warwick and Plessisville, their cheese aging center in Victoriaville, and at their cutting and distribution center in Boucherville. These employees will join the 7,500 who already work at Saputo. The organization's annual revenues are approximately C$110 million.

 

Saputo is the largest dairy processor in Canada, one of the largest cheese producers in North America and the third-largest dairy processor in Argentina.

 

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