The acquisitions are in line with — and will contribute favorably to — Saputo’s new global strategic plan objectives.
Saputo Inc. announced two strategic acquisitions: one the dairy alternatives space and one in the value-added ingredients segment. The acquisitions represent a combined investment of approximately CDN$187 million.
Montréal-based Saputo said it completed the acquisition of Bute Island Foods Ltd., an innovative manufacturer, marketer and distributor of a variety of cheese alternative 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, and employs approximately 180 people, including its founders.