Montréal – Saputo Inc. (“Saputo”) (TSX: SAP) announces that it has acquired the companies forming Woolwich Dairy (“Woolwich”).
The purchase price of $80 million, on a debt-free-basis, was paid in cash at closing.
Woolwich generates annual revenues of approximately $70 million. It produces, distributes, markets and sells goat cheese in Canada and the USA. Woolwich operations are comprised of three manufacturing facilities (in Québec and in Ontario, Canada; and in Wisconsin, USA), as well as a distribution centre (in Ontario, Canada). Woolwich is a leading manufacturer of branded and private label goat cheese for the North American market. Its brands include Woolwich Dairy, Chevrai and Wholesome Goat. The business employs approximately 190 people.
The transaction enables Saputo to increase its presence in the specialty cheese category in North America.
About Saputo
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Saputo is one of the top ten dairy processors in the world, the largest cheese manufacturer and the leading fluid milk and cream processor in Canada, the third largest dairy processor in Argentina, and the fourth largest in Australia. In the US, Saputo ranks among the top three cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products. Our products are sold in several countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, Bari, Baxter, Black Creek, COON, Cracker Barrel*, Dairyland, DairyStar, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads, Great Midwest, Kingsey, La Paulina, Milk2Go/Lait’s Go, Mil Lel, Neilson, Nutrilait, Organic Creamery, Ricrem, Salemville, Scotsburn*, Stella, Sungold and Treasure Cave. Saputo Inc. is a publicly traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”.
*Trademark used under licence.
Source: Saputo
