Gloria Foods

Saputo, the Canadian dairy processor, has entered into a definitive agreement to sell an 80% interest in its Argentine dairy division to Gloria Foods for an enterprise value of approximately C$855 million ($630 million). The transaction involves Molfino Hermanos, the Argentine subsidiary that operates two manufacturing facilities and owns local brands including La Paulina, Ricrem and Molfino. Saputo will retain a 20% minority stake in the business and expects to …

Dairy firm Fonterra has announced the divestment of its Chilean Soprole business. According to the company’s press release, the business was sold for about CLP $591.07 billion ($638.51 million) to dairy firm Gloria Foods. The decision to sell was made in April 2022, after the company released Fronterra’s strategy to 2030. Fonterra CEO, Miles Hurrell, commented the deal: “A key pillar of our strategy is to focus on New Zealand …