Saputo completes acquisition of U.S. company Betin Inc.
Betin, doing business as Montechevre, manufactures, markets and distributes goat cheese.
Saputo Inc., Montréal, said it completed the acquisition of Betin Inc., doing business as Montchevre. Its activities are conducted at one manufacturing facility located in Belmont, Wis. The business employs approximately 319 people. The purchase price of US$265 million, on a debt-free-basis, was paid in cash at closing from cash on hand and available credit lines, Saputo said.
Montchevre manufactures, markets and distributes goat cheese in the United States, mainly under the Montchevre brand. For the 12-month period ending June 30, 2017. The transaction will enable Saputo’s U.S. Cheese Division to broaden its presence in specialty cheese in the United States.