Canada: Saputo to acquire two dairy alternative companies for CAD187 million

Canadian dairy company Saputo has strengthened its presence in the non-dairy cheese and value-added ingredients sector with two acquisitions for CAD187 million ($72.6 million approx).

The acquisitions follow the company’s strategy to expand and accelerate its presence in the dairy alternative sector.

The companies acquired by Saputo are the Scottish manufacturer, marketer, and distributor of vegan cheese Bute Island Foods, and the US-based company Reedsburg, a producer of value-added ingredients like goat whey, organic lactose, and other dairy powders.

“Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers,” Lino A Saputo, chief executive and board chairman of Saputo. “This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities”.

Source: FoodBev