Saputo Inc. announces today that it has entered into an agreement to acquire the extended shelf-life (“ESL”) dairy product activities of Southeast Milk, Inc.
The ESL processing activities are conducted at one manufacturing facility located in Plant City, Florida (USA). The business employs approximately 66 people.
For the twelve-month period that ended on June 30, 2017, the ESL activities of SMI generated annual revenues of approximately CDN$59 million (US$47 million).
The acquisition of SMI’s ESL activities will add to and complement the activities of Saputo’s Dairy Foods Division (USA).
The transaction is subject to customary conditions and is expected to close on or around September 29, 2017.
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