A strategic sale has taken place at the hands of Saputo. The cheesemaker has completed the sale of two fresh milk processing facilities located in Laverton North, Victoria, and Erskine Park, New South Wales, Australia. The facilities were sold to Coles Group Limited in a transaction valued at approximately CDN$95 million (~$69.4 million USD).
“This sale reinforces our roadmap for long-term success in Australia and demonstrates our agility in further adapting our manufacturing footprint to focus on higher-value growth opportunities,” said Lino A. Saputo, Chair of the Board, President, and Chief Executive Officer.
As part of the sale, Saputo is maintaining its valued farmer relationships in Australia and will continue to have fresh milk products processed at the two manufacturing facilities.
According to a press release, the employment of approximately 48 people across the two sites was transferred to Coles Group Limited.
Saputo is grateful to its employees at the two fresh milk sites for their ongoing commitment throughout the sale process and wishes them every success in their future employment with Coles Group Limited.
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