Saputo Group Inc. Announces the Closing of its Special Warrants Offering
Saputo Group Inc. Announces the Closing of its Special Warrants Offering
12/10/1997 12:00 UTC
(Montreal, December 10, 1997) - Saputo Group announced today that it has completed its offering of 9 000 000 Special Warrants exercisable into Common Shares at a price of C $ 25 for an aggregate amount of C $ 225 000 000. As part of this offering, the Saputo Family has purchased 6 051 620 Special Warrants for an aggregate amount of approximately C $ 151 300 000 representing 67.2 % of the Offering. Saputo will use the net proceeds of this Offering to reimburse a portion of the loans incurred for the acquisition of Stella Foods completed last Friday.
Saputo has established itself as Canada's leading producer of mozzarella with a share of approximately 34% of Canadian mozzarella production. Saputo produces and markets other Italian specialty cheeses and by-products such as butter, lactose and whey protein. Saputo also distributes in Canada fine imported cheeses and a large assortment of other non-dairy products that complement its cheese distribution. With the acquisition of Stella Foods, Inc., the Company has over 2 700 employees and operates six manufacturing facilities in Canada and fourteen in the United States. Saputo, on a pro-forma basis, has annual sales of approximately C $ 1.46 billion (US $ 1 billion) and an EBITDA of C $ 136 million (US $ 98 million). Saputo's Common Shares are listed on the Montreal and Toronto stock exchanges under the symbol SAP. Saputo was advised by Schroders on the acquisition.
Saputo has established itself as Canada's leading producer of mozzarella with a share of approximately 34% of Canadian mozzarella production. Saputo produces and markets other Italian specialty cheeses and by-products such as butter, lactose and whey protein. Saputo also distributes in Canada fine imported cheeses and a large assortment of other non-dairy products that complement its cheese distribution. With the acquisition of Stella Foods, Inc., the Company has over 2 700 employees and operates six manufacturing facilities in Canada and fourteen in the United States. Saputo, on a pro-forma basis, has annual sales of approximately C $ 1.46 billion (US $ 1 billion) and an EBITDA of C $ 136 million (US $ 98 million). Saputo's Common Shares are listed on the Montreal and Toronto stock exchanges under the symbol SAP. Saputo was advised by Schroders on the acquisition.
For further information:
Camillo Lisio
Executive Vice-President
(514) 328-3314
