The transaction is expected to close in 2023's second half.
Saputo Inc. will sell two fresh milk processing facilities in Laverton North, Victoria, and Erskine Park, New South Wales, Australia, to Coles Group Limited, an Australian-based supermarket, retail, and consumer services chain, in a transaction valued at approximately $71 million U.S. dollars.
The transaction is subject to customary conditions, including the clearance from the Australian Competition and Consumer Commission, and is expected to close in the second half of calendar 2023.