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In the Dairy Alternatives and Value-Added Ingredients Segments
Saputo Inc. has announced two strategic acquisitions in each of the dairy alternatives and value-added ingredients segments, representing a combined investment of approximately CDN$187 million.
The first is the acquisition of 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. The business is located on the Isle of Bute, off the West Coast of Scotland (United Kingdom) and employs approximately 180 people, including its founders.
Additionally, Saputo has entered into an agreement to acquire the Reedsburg facility of Wisconsin Specialty Protein, LLC. This facility located in Wisconsin (USA) manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders and it employs approximately 40 people. This transaction is expected to close at the end of May 2021 and will enable Saputo to broaden and increase the value of its ingredients offering, enhancing its portfolio in the United States and internationally.