June 24, 2009, Montreal, Que. - Saputo Inc. has agreed to acquire the activities of F&A Dairy of California, who manufactures, sells and distributes, principally mozzarella,
provolone and whey products from its facility in Newman, CA.
F&A Dairy employs 113 employees. For the year ended December 31, 2008, it produced
approximately 60 million pounds of cheese and had sales of about US$140
million.
The acquisition will be paid in cash by drawing on available lines of credit.
The transaction is subject to the usual conditions and is expected to close on
or about July 20, 2009. This transaction will complement the activities of
Saputo Dairy Products Division (USA).
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