Saputo completes purchase of German cheese maker
April 17, 2006
by Eric Schroeder
MONTREAL — Saputo Inc. on Monday completed the acquisition of Spezialitaten-Kaserei De Lucia GmbH, a German cheese manufacturer producing Italian cheese specialties such as mozzarella, ricotta and mascarpone. The transaction, which was first announced on March 29, marks Saputo’s first venture into Europe.
Founded in 1964, Spezialitaten-Kaserei De Lucia GmbH employs approximately 60 people at its manufacturing facility located in Heiden, Germany. The company’s revenues in its last fiscal year were approximately €20 million ($24 million). These assets will complement Saputo’s current activities in Canada, the United States and Argentina.