Saputo to acquire California cheese maker
June 24, 2009
by Eric Schroeder
MONTREAL — Saputo Inc. reached agreement to acquire the activities of F&A Dairy of California, Inc., a Newman, Calif.-based maker of mozzarella, provolone and whey products. Financial terms of the transaction, which is scheduled to close by July 20, were not disclosed.
In the year ended Dec. 31, F&A Dairy had sales of approximately $140 million and produced about 60 million lbs of cheese.
The announcement continues Saputo’s trend toward increasing its presence in the United States. In 2008, the company acquired Wisconsin’s Alto Dairy Co-operative, and in 2007 bought Land O’Lakes West coast industrial cheese business.