|By Marketwired .||
|April 14, 2014 12:48 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 04/14/14 -- Saputo Inc. ("Saputo") (TSX:SAP) completed today the transaction announced on January 17, 2014 and acquired the fluid milk activities of Scotsburn Co-Operative Services Limited based in Atlantic Canada ("Scotsburn Fluid Milk Business"). Scotsburn is a Nova Scotia cooperative that will continue its other activities such as its frozen ice cream and frozen novelties business.
The purchase price of $61 million, on a debt-free basis excludes about 8M$ of working capital items and was paid by drawing on available credit lines.
The Scotsburn Fluid Milk Business operates two fluid milk processing facilities located in Sydney, Nova Scotia, and Mount Pearl, Newfoundland and employs an aggregate of approximately 400 people in Atlantic Canada. Its operations consist of manufacturing, selling, marketing, distributing and merchandising of products such as fluid milk, cream, sour cream, ice cream mix and cottage cheese, mainly under the Scotsburn brand. The Scotsburn Fluid Milk Business generates annual sales of approximately $160M and about $8M of earnings before interest, taxes, depreciation and amortization (EBITDA).
This transaction will enable Saputo's Dairy Division (Canada) to increase its presence in Atlantic Canada.
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. We are one of the top ten dairy processors in the world, the largest in Canada, the third largest in Argentina, the fourth largest in Australia and among the top three cheese producers in the United States. Our products are sold in more than 40 countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads, Great Midwest, King's Choice, Kingsey, La Paulina, Milk2Go, Neilson, Nutrilait, Ricrem, Salemville, Stella, Sungold and Treasure Cave. Saputo Inc. is a publicly traded company whose shares are listed on the Toronto Stock Exchange under the symbol "SAP".
Media and Investor Relations
Director, Corporate Communications
Sep. 26, 2016 01:15 PM EDT Reads: 3,277
Sep. 26, 2016 01:00 PM EDT Reads: 1,603
Sep. 26, 2016 12:45 PM EDT Reads: 2,244
Sep. 26, 2016 12:45 PM EDT Reads: 1,729
Sep. 26, 2016 12:45 PM EDT Reads: 3,408
Sep. 26, 2016 12:45 PM EDT Reads: 2,029
Sep. 26, 2016 12:15 PM EDT Reads: 1,664
Sep. 26, 2016 12:15 PM EDT Reads: 2,651
Sep. 26, 2016 12:00 PM EDT Reads: 1,375
Sep. 26, 2016 12:00 PM EDT Reads: 2,783
Sep. 26, 2016 11:45 AM EDT Reads: 2,425
Sep. 26, 2016 11:30 AM EDT Reads: 2,537
Sep. 26, 2016 11:30 AM EDT Reads: 991
Sep. 26, 2016 11:30 AM EDT Reads: 2,571
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Sep. 26, 2016 11:15 AM EDT Reads: 2,865