SAPIF - Saputo announces Bute Island Foods facilty acquisitions for C$187M

Saputo (SAPIF) announces two strategic acquisitions in each of the dairy alternatives and value-added ingredients segments, representing a combined investment of ~ C$187M.The Company has completed the acquisition of Scotland based Bute Island Foods Ltd., an innovative manufacturer, marketer and distributor of a variety of dairy alternative cheese products for both the retail and foodservice market segments under the award-winning vegan Sheese brand, alongside private label brands.Supporting the communities where it operates, Saputo is also proud to pledge more than C$5 M over five years to support local Bute Island community initiatives.Additionally, Saputo has entered into an agreement to acquire the Reedsburg facility of Wisconsin Specialty Protein, LLC, located in Wisconsin, manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders and it employs approximately 40 people.The transaction is expected to close at the end of May 2021 and will enable Saputo to broaden and increase the value

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Saputo announces Bute Island Foods, facilty acquisitions for C$187M