Montréal-based dairy major Saputo has announced two strategic acquisitions in each of the dairy alternatives and value-added ingredients segments, representing a combined investment of approximately CAD187 million (£109.7m).
Saputo has completed the acquisition of Bute Island Foods, an innovative manufacturer, marketer and distributor of a variety of dairy alternative cheese products for both the retail and foodservice market segments under the award-winning vegan Sheese brand, alongside private label brands.
The business is located on the Isle of Bute, off the west coast of Scotland and employs approximately 180 people, including its founders.
“We are delighted to welcome the Bute Island Foods team and the wealth of knowledge they bring to our global family,” said Lino A. Saputo, chair of the board and chief executive officer, Saputo Inc.
“Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers. This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities.”
Saputo has also pledged almost £3m over five years to support local Bute Island community initiatives.
Additionally, Saputo has entered into an agreement to acquire the Reedsburg facility of Wisconsin Specialty Protein, LLC.
Located in Wisconsin (USA), this facility manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders and employs approximately 40 people.
This transaction is expected to close at the end of May 2021 and will enable Saputo to broaden and increase the value of its ingredients offering, enhancing its portfolio in the US and internationally.
