Saputo expands non-dairy cheese and value added ingredients with two acquisitions
The dairy giant is spending a combined $187 million on the two companies, one of which is in Scotland
The Canadian Press
Photo: Sheese Facebook
Global dairy giant Saputo Inc. is beefing up its non-dairy cheese and value-added ingredients holdings with two acquisitions.
The Montreal-based dairy processor and cheese manufacturer says it has completed the acquisition of Bute Island Foods, a Scottish manufacturer, marketer and distributor of Sheese vegan cheese.
Saputo says it has also entered into an agreement to acquire the Reedsburg, Wis., facility of Wisconsin Specialty Protein, which makes value-added ingredients such as goat whey, organic lactose and other dairy powders.
The dairy company says the two acquisitions, which cost a combined $187 million, fit with the company's new global strategic plan to be discussed during its year-end earnings presentation next week.
Saputo's chief executive and board chairman Lino Saputo says the acquisition of Bute Island Foods reflects the company's commitment to expanding its footprint in the dairy alternative space.
The business, located off the West Coast of Scotland, has about 180 employees, while Wisconsin Specialty Protein has about 40 workers.