Dairy provider, marketer, and distributor Saputo is leaning into the high of a successful quarter. In addition to reporting positive financial results for the third quarter of 2019, which ended December 31, 2018, Saputo also named Martin Gagnon as its new Chief Acquisition and Strategic Development Officer. Gagnon will take over the position on April 1, 2019.
Gagnon first joined the company as Executive Vice President, Mergers and Acquisitions, in 2016. Before joining Saputo, he held a senior position at an investment bank. In his new role, Gagnon will report to Saputo’s CEO and Chairman of the Board Lino Saputo, Jr.
According to a press release, highlights from the company’s third quarter included the following:
“Our fundamental values, all of which my family imparted on this business over 65 years ago are still a part of who we are today,” said Lino Saputo during a conference call with analysts. “With these elements intact, we will remain a vibrant player in our industry, optimizing our operations and pursuing our growth strategy with a disciplined and responsible approach.”
While Saputo’s CEO was optimistic during the call, he also pointed to warehousing and logistical costs and weak dairy ingredient and cheese markets as factors creating an increasingly competitive landscape. With these on mind, though, Saputo asserted the company is approaching the rest of 2019 with initiatives in mind to take advantage of, rather than be hindered by, these factors.
“We’re optimistic more so now than we’ve ever been before about the future of the dairy industry and the market conditions in that dynamics. I’ll say that that will not make us complacent, definitely we’ve to look at optimizing our platforms…” CEO Saputo said.
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