Saputo to buy Alto Dairy Cooperative
January 29, 2008
by Jeff Gelski
MONTREAL – Saputo Inc. intends to acquire Alto Dairy Cooperative, Waupun, Wis., in a cash transaction valued at approximately $160 million. The agreement, which Alta’s board of directors has approved, is subject to the approval of the cooperative’s members who will vote on it at a Feb. 27 meeting. The acquisition is expected to close during March.
Alto produces Italian- and American-style cheeses, as well as whey products, which are marketed nationwide under a variety of brand names and private labels. The cooperative has annual sales of $378 million and operates two plants in Waupun and Black Creek, Wis. with a total of 467 employees.
The acquisition will enable Saputo Cheese Division (USA) to expand its business and allow it to achieve a stronger presence in the United States, according to the company.