Saputo Inc. announces today that it has entered into an agreement to acquire the activities of F&A Dairy Products, Inc. Its activities are conducted at two manufacturing facilities located in Las Cruces, New Mexico, and Dresser, Wisconsin (USA). The business employs approximately 170 people.
The purchase price of US$85 million (approximately CDN$111 million), on a cash-free and debt-free basis, will be paid in cash from cash on hand and available credit facilities.
F&A Dairy Products manufactures a variety of natural cheeses, including mozzarella and provolone, which are distributed in the United States and Mexico. For the twelve-month period ended on August 31, 2018, F&A Dairy Products generated revenues of approximately US$163 million (CDN$212 million).
The acquisition of F&A Dairy Products’ activities will add to and complement the activities of Saputo’s Cheese Division (USA).
The transaction is subject to customary conditions (including regulatory approval) and is expected to close by the end of 2018.
Source: Saputo
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.