MONTREAL-Saputo Inc. is bolstering its market leader position for string cheese in the United States with a $23.9-million acquisition of Schneider Cheese Inc., Waldo, Wis. Schneider makes string cheese and cheese sticks under the Schneider brand name and private labels, with annual revenue of about $40 million.
Saputo spokesman Claude Pinard said last month Saputo is the market leader in string cheese in the U.S.
Saputo will not sell Schneider products in Canada because it already markets its
own Saputo Cheesehead brand there, Pinard said.
Saputo said it will take on no debt for the acquisition, using its own cash and lines of credit. The deal was expected to close before the end of May.
Schneider Cheese employs about 160 people at its single plant in Waldo.
