Saputo Group Inc. Announces the Filing of its Preliminary Prospectus
Saputo Group Inc. Announces the Filing of its Preliminary Prospectus
12/22/1997 12:00 UTC
(Montreal, December 22, 1997) - Saputo Group announced today that it has filed a preliminary prospectus with securities regulatory authorities in all provinces of Canada. It relates to the Common Shares issuable upon the exercise of its 9 000 000 Special Warrants sold on December 10, 1997 to a group of underwriters at the price of C $ 25 per Special Warrant. Each Special Warrant entitles its holder to acquire, without additional payment, one Common Share of Saputo.
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
