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Saputo Completes the Acquisition of the Activities of Shepherd Gourmet in Canada

06/19/2018 09:31 EST

MONTREAL, June 19, 2018 (GLOBE NEWSWIRE) -- Saputo Inc. (“Saputo” or the “Company”) (TSX:SAP) completed today the transaction announced on May 23, 2018 and acquired the activities of Shepherd Gourmet Dairy (Ontario) Inc. (“Shepherd Gourmet”) for a purchase price of CDN$100 million, on a debt-free-basis. Shepherd Gourmet has one manufacturing facility located in St. Marys, Ontario (Canada) and employs approximately 90 people.

Shepherd Gourmet manufactures, markets and distributes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style yogurt in Canada. For the twelve-month period ended on April 30, 2018, Shepherd Gourmet generated revenues of approximately CDN$57 million.

The transaction will enable the Company’s Dairy Division (Canada) to increase its presence in specialty cheese and expand its yogurt offering in Canada.

About Saputo

Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Saputo is one of the top ten dairy processors in the world, the largest cheese manufacturer and the leading fluid milk and cream processor in Canada, the top dairy processor in Australia and the second largest in Argentina. In the USA, Saputo ranks among the top three cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products. Our products are sold in several countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel*, Dairyland, DairyStar, Devondale, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait’s Go, Montchevre, Murray Goulburn Ingredients, Neilson, Nutrilait, Scotsburn*, Stella, Sungold, Treasure Cave and Woolwich Dairy. Saputo Inc. is a publicly traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”.

*Trademark used under licence.

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