Saputo acquires German cheese maker
March 29, 2006
by Eric Schroeder
MONTREAL — Saputo Inc., Canada’s largest dairy processor, on Wednesday entered an agreement to acquire the activities of Germany-based Spezialitaten-Kaserei De Lucia GmbH. The move marks Saputo’s first venture into Europe. Currently, Saputo operates 28 plants in Canada, 15 in the United States and one in Argentina.
Founded in 1964, Spezialitaten-Kaserei De Lucia GmbH manufactures and sells Italian cheese specialties such as mozzarella, ricotta and mascarpone, mainly under the De Lucia brand. The company’s revenues in fiscal 2005 totaled approximately €20 million ($24 million). It employs approximately 60 people at its manufacturing facility located in Heiden, Germany.
This acquisition is subject to certain closing conditions and should be completed before the end of April.