Saputo Inc. has entered into a definitive agreement with B.S.A. SAS (Lactalis), to sell its Dairy Division (UK), valuing the business at an enterprise value of approximately £988 million (€1.16bn). The closing of the transaction is expected to occur by the end of the first quarter of calendar 2027, subject to certain customary closing conditions, including the receipt of applicable regulatory approvals.

The transaction includes five manufacturing facilities as well as local brands, including Cathedral City, Wensleydale, Davidstow, Clover, and Country Life. Over the last four quarters, the Dairy Division (UK) generated approximately C$1.2 billion (€750m) of revenues, which represented approximately 7% of consolidated revenues.

“Today’s announcement reflects a disciplined step to refine our global footprint and sharpen our focus on platforms where Saputo competes from a position of strength,” said Carl Colizza, president and CEO. “The value to be realised recognises the expertise of the UK team, the quality of the operations, and the market position of these leading brands. This transaction reinforces our strategic focus and enhances our financial flexibility as we continue to create long-term shareholder value through disciplined capital allocation.

“We are profoundly grateful to our colleagues in the United Kingdom for their dedication and contributions to Saputo. We look forward to seeing these strong assets and brands continue to build on their market positions under new ownership.”