MONTREAL, QC
Saputo is looking into possible acquisitions in Australia, the United States, Canada and Latin America, according to Chief Executive Officer Lino Saputo Jr.
This news comes after the company’s major purchase of 88% of Australia’s Warrnambool Cheese and Butter Factory Company Holdings Ltd for C$449.6 million in February. In the US, potential acquisitions could cost less than C$100 million ($91.28 million) and as much as C$4 billion, according to Reuters. Check out our previous story on this topic below.
Click here to read: Saputo Cheese Nears Majority Control of Australia’s Warrnambool Cheese & Butter
"The (U.S.) industry still is very fragmented," Saputo Jr. said. "So I think there are some great opportunities for us that could be small, medium or large."
He also said that the company may look for acquisitions in Canada totaling around C$100 million and is also eager to add to its new footing in Australia. A growing middle class in Latin America makes countries like Brazil an attractive option.
Saputo’s brands include ½ Moon cakes and Dairyland, and it is among the top three cheese producers in the United States. Its stock reached an all-time high of C$60.04 in mid-May, according to Reuters.
Stay tuned to DeliMarket TV for the latest information on Saputo developments.
