May 6, 2019
Saputo completes acquisition of UK's Dairy Crest Group
Saputo Inc. had completed its acquisition of Dairy Crest Group plc, a UK-based dairy company., Saputo announced last month.
The company acquired the entire issued ordinary share capital of Dairy Crest for GBP6.20 (US$8.14) per ordinary share, valuing Dairy Crest's share capital at approximately GBP975 million (US$1.75 bilion).
Dairy Crest is a large dairy company which manufactures and markets cheese, butters, spreads and oils under leading British brands, such as Cathedral City, Clover, Country Life and Frylight and value-added dairy ingredients. The company employs approximately 1,100 people in seven locations across the UK.
The acquisition will enable Saputo to expand its international presence and enter the UK market by acquiring and investing in a well-established industry player with a solid asset base and an experienced management team.