“Market Cap $9.85 B As of May 2014
At a Glance
- Industry: Food Processing
- Founded: 1992
- Country: Canada
- CEO: Lino Saputo Jr
- Website: www.saputo.com
- Employees: 12,000
- Sales: $8.54 B
- Headquarters: Saint-L?onard
#1164 Global 2000
- #1099 in Sales
- #1148 in Profit
- #1093 in Market value
Saputo Inc. produces, markets and distributes an array of dairy products in Canada, the United States, Argentina and Europe, as well as bakery products in Canada. It produces, markets and distributes products, including cheese, fluid milk, yogurt, dairy ingredients and snack-cakes. The Company has two operating sectors: Dairy Products and Grocery Products. The Dairy Products Sector principally includes the production and distribution of cheeses, fluid milk and dairy ingredients. The activities of this Sector are carried out in Canada, Europe and Argentina (CEA) and in the United States. The Grocery Products Sector consists of the production and distribution mainly of snack-cakes. It markets dairy products to the retail, foodservice and industrial segments. The Company offers a selection of specialty cheeses, including over 200 varieties. In January 2013, the Company acquired Morningstar Foods, LLC, a subsidiary of Dean Foods Company.”
Saputo acquired Dairyworld Foods and its stable of brands including “Dairyland” milk and “Armstrong” cheese, which was the production and marketing arm of Agrifoods International Cooperative Ltd, in 2001 for C$407 million. Agrifoods International was itself the result of a series of mergers between dairy cooperatives in Western Canada in the 1990s. Armstrong Cheese was formerly an independent cheese maker based in Armstrong, British Columbia which was acquired by Dairyworld in 1997. After Saputo obtained the brand, it closed the plant in Armstrong.
In 2008, Saputo continued its series of acquisitions by purchasing Neilson Dairy from George Weston Limited for C$465 million.
Saputo announced in 2012 it would buy Morningstar Food for US$1.45 billion.The US company makes 2/3 of its sales from products sold to restaurants, including coffee, whipped cream, ice cream, cottage cheese and sour cream.
In January 2014 they announced that they would be purchasing the fluid milk business of Scotsburn Co-operative Services Limited of Nova Scotia for $61 million.”
*Information from Forbes.com and Wikipedia.org
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