Saputo has made two strategic acquisitions in each of the dairy alternatives and value-added ingredients segments, representing a combined investment of approximately CAD$187 million (US$150 million).
The company has completed the acquisition of Bute Island Foods, a manufacturer, marketer and distributor of dairy alternative cheese products for both the retail and foodservice market segments.
A Saputo spokesperson says this latest commitment will expand the company’s footprint in the dairy alternatives space to meet the changing demands of its customers.
“This investment marks an important milestone that will allow us to accelerate our growth in this area globally,” they note.
“The team at Bute Island Foods is passionate about dairy alternatives. Joining Saputo will allow them to bring their products to new markets, enabling more people to live dairy-free, should they wish.”
The business is located on the Isle of Bute, off the West Coast of Scotland, UK, and employs approximately 180 people, including its founders.
Promoting health
Saputo’s Bute Island expands its footprint in the dairy alternatives space to meet the changing demands of its customers and consumers, according to Lino A. Saputo, chair of the board and CEO of Saputo.
“This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities,” she says.
Supporting the communities where it operates, Saputo has also pledged more than CDN$5 million (US$4.1 million) over five years to support local Bute Island community initiatives.
Community engagement is essential to Saputo, who strives to invest 1 percent of its pre-tax profits each year in community programs and organizations that promote a healthy lifestyle for people of all ages.
Acquisition in value-added ingredients
Meanwhile, Saputo has agreed to acquire the Reedsburg facility of Wisconsin Specialty Protein.
This facility, located in Wisconsin, US, manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders, and it employs approximately 40 people.
This transaction is expected to close at the end of this month. It will enable Saputo to broaden and increase its ingredients’ value, enhancing its portfolio in the US and beyond.
These two acquisitions are in line with and will contribute favorably to Saputo’s new global strategic plan objectives to be presented in the company’s year-end disclosures.
