Saputo acquires F&A Dairy
Saputo Inc. has announced that it has entered into an agreement to acquire F&A Dairy Products Inc for $85 million.
The acquisition, which includes the two manufacturing facilities located in Las Cruces, New Mexico, and Dresser, Wisconsin, US, along with approximately 170 employees, is expected to be complete by the end of 2018
F&A Dairy Products manufactures a variety of natural cheeses, including mozzarella and provolone, which are distributed in the United States and Mexico. For the twelve-month period ended on August 31, 2018, F&A Dairy Products generated revenues of approximately US$163 million (CDN$212 million).
This acquisition is the fifth by Saputo in the past year, and will join Southeast Milk in Florida, Montchevre-Betin in Wisconsin, Murray Goulburn in Australia and Shepherd Gourmet Dairy in Ontario, Canada.