Saputo in deal to buy Schneider Cheese

by Eric Schroeder
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MONTREAL — Saputo Inc., the largest dairy processor in Canada and one of the largest cheese producers in North America, today entered an agreement to acquire Schneider Cheese, Inc., a Waldo, Wis.-based maker of string cheeses and cheese sticks.

Saputo has agreed to acquire Schneider for $23.9 million on a debt-free basis, payable in cash from liquidity and/or by drawing on available lines of credit. The transaction is expected to close by the end of this month.

Based in Waldo, Schneider employs approximately 160 people and has annual sales of about $40 million.

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