Saputo to buy US Alto Dairy

Canadian cheesemaker Saputo has entered into an agreement to buy Wisconsin-based Alto Dairy Cooperative for $160 million (€107m).

This agreement, which has been approved by Alto’s board of directors, is subject to the approval of the cooperative’s members at a February meeting.

The transaction is expected to close in March, if it meets US antitrust guidelines.

Alto produces cheese and whey products, which are marketed nationwide under a variety of brand names and private labels. It has annual sales of $378 million (€254m).