The grocery market is moving at warp speed, and to capitalize on the increases in demand, companies across the industry are heading back to the drawing board to create new growth strategies. As dairy continues to boom in popularity, one such company is Saputo, which, along with its fourth quarter 2021 results, also revealed its new Global Strategic Plan to accelerate growth over the next four years to reach an Adjusted EBITDA of $2.125 billion CDN ($1.761 billion USD) by the end of fiscal 2025.
“Looking back on fiscal 2021, I’m incredibly proud of our performance and our resilience as an essential provider during such tumultuous times, which were the direct result of the heroic efforts of our team." said Lino A. Saputo, Chair of the Board and Chief Executive Officer. "Putting the health and well-being of our people first, we adapted quickly to changes in consumer demand, and gave back generously to our communities. And while the pandemic cost us a year of potential growth, we kept moving our business forward and honoring our commitments to all our stakeholders. No doubt, COVID-19 challenged us to improve our core business and set a strong base for future growth, and the positive momentum continues as we work toward achieving our new Global Strategic Plan.”
The new strategy will take a three-pronged approach to continue driving the business forward. According to a press release, the plan will combine organic growth, strategic acquisitions, and a continued delivery on the Saputo Promise to create progress that complements Saputo’s other growth activities.
Composed of five pillars, the plan is expected to drive strong growth over the four-year period from FY22–FY25. The pillars of the plans include: Strengthen core business, Accelerate product innovation, Increase the value of ingredients portfolio, Optimize and enhance operations, and Create enablers to fuel investments.
“Through our new Global Strategic Plan, we’re laying the foundation for accelerated organic growth to complement our M&A and Saputo Promise activities. With our recent leadership enhancements, a united USA platform, and key COVID learnings in tow, I strongly believe we’re embarking on this exciting path with the right talent, structure, and strategic roadmap guiding our way. As our collective passion ignites our efforts, I’m confident that together we’ll emerge a bigger, better, and stronger Saputo,” continued Saputo.
In addition to its new growth strategy, Saputo also revealed its fourth quarter 2021 and fiscal year-end financial results for the period ending March 31, 2021. Some of the highlights from the report include:
For those interested in watching the webcast of the announcement, which took place on June 3, it can be found on the company’s website. Additionally, the conference call will also be available for listening until June 10.
As Saputo implements this exciting new growth strategy, Deli Market News will keep you up-to-date with the outcomes.