Saputo, the Canadian dairy giant, has announced the acquisition of the Carolina Aseptic and Carolina Dairy businesses from AmeriQual Group for $118 million in a bid to strengthen its presence in the US market.
The two new acquisitions will help Saputo to quickly tap into growing demand for aseptic protein beverages and nutritional snacks, the company said.
Located in North Carolina, Carolina Aseptic develops, manufactures, packages, and distributes aseptic shelf-stable food products and beverages, while Carolina Dairy manufactures, packages, and distributes refrigerated yogurts. Both companies will join Saputo’s dairy Ddvision (USA).
“Complementing the organic growth initiatives outlined in our Global Strategic Plan (FY22-FY25), this investment aims to reinforce the strength of Saputo’s core business by increasing our capacity to manufacture and distribute products in the rapidly growing aseptic beverage and food categories, as well as the nutritional snacks space”, said Lino A Saputo, chair of the board and CEO, Saputo.