Saputo to acquire Betin/Montchevre

News Release

SAPUTO TO BROADEN ITS PRESENCE IN SPECIALTY CHEESE BY ACQUIRING MONTCHEVRE IN THE UNITED STATES

(Montréal, November 1, 2017) – Saputo Inc. (“Saputo”) (TSX: SAP) announces today that it has entered into an agreement to acquire Betin, Inc., doing business as Montchevre. Its activities are conducted at one manufacturing facility located in Belmont, Wisconsin (USA). The business employs approximately 319 people.

Montchevre manufactures, markets and distributes goat cheese in the United States, mainly under the Montchevre brand. For the twelve-month period ended on June 30, 2017, Montchevre generated revenues of approximately CDN$150 million.

The transaction will enable the Cheese Division (USA) of Saputo to broaden its presence in specialty cheese in the United States.

The transaction is subject to customary conditions (including regulatory approval) and is expected to close by the end of 2017.

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, one of the top three dairy processors in Argentina, and among the top four in Australia. In the US, 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, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait’s Go, 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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