Saputo completes Morningstar acquisition
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MONTREAL — Saputo Inc. has completed its acquisition of Morningstar Foods, L.L.C., a subsidiary of Dallas-based Dean Foods Co., for $1.45 billion.
The combined business will have about 12,000 employees, 57 manufacturing facilities in five countries and combined annual revenue of about $8.7 billion. The company said the acquisition complements the activities of the Saputo Dairy Products Division, and Saputo will benefit from Morningstar’s national manufacturing and distribution footprint and will optimize coast-to-coast service. It also expands product offerings to customers in the United States and broadens the range of Saputo’s future acquisition opportunities.
Morningstar produces dairy and non-dairy extended shelf-life products as well as cultured products.