Saputo Inc. Enters into an Agreement to Acquire the Activities of Fromage Côté S.A. and Distributions Kingsey Inc.
Saputo Inc. Enters into an Agreement to Acquire the Activities of Fromage Côté S.A. and Distributions Kingsey Inc.
03/18/2005 0:00 UTC
(Montréal, March 18, 2005) – Saputo Inc. announces today that it has entered into an agreement to acquire from Fromage Côté S.A. and Distributions Kingsey Inc. the manufacturing, marketing and distribution activities for their pressed cheddar and cheddar cheese curd, Swiss-type cheese and other specialty cheeses sold under the brand names Kingsey, Princesse, Sir Laurier d’Arthabaska and Du Village de Warwick.
The purchase price is CDN $54 million on a debt-free basis, payable in cash. The closing of the transaction is subject to the usual conditions, including approval by the Competition Bureau, and is anticipated for early April 2005.
Fromage Côté S.A. and Distributions Kingsey Inc. employ approximately 400 people in Québec at their plants in Warwick and Plessisville, at their cheese aging centre in Victoriaville, as well as at their cutting and distribution centre in Boucherville. The organization’s annual revenues are approximately CDN $110 million. These assets will complement Saputo’s current cheese-making activities in Canada.
About Saputo
Since 1954, Saputo has maintained its family flavour and the vitality of a team whose passion is equalled only by its know-how… and its taste for good food! Saputo employs 7,500 individuals in its 42 plants and its distribution centres. Well established in the dairy and grocery products sectors, its products are offered under the brand names of Saputo, Stella, Frigo, Dragone, Armstrong, Caron, Cayer, Treasure Cave, Dairyland, Baxter, Nutrilait, La Paulina, Ricrem and Vachon. Saputo is the largest dairy processor in Canada, one of the largest cheese producers in North America and the third largest dairy processor in Argentina. Saputo Inc. is a public company whose shares are listed on the Toronto Stock Exchange under the symbol SAP. Visit our website at www.saputo.com.
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Information
Claude Pinard
Vice President, Communications
(514) 328-3381
The purchase price is CDN $54 million on a debt-free basis, payable in cash. The closing of the transaction is subject to the usual conditions, including approval by the Competition Bureau, and is anticipated for early April 2005.
Fromage Côté S.A. and Distributions Kingsey Inc. employ approximately 400 people in Québec at their plants in Warwick and Plessisville, at their cheese aging centre in Victoriaville, as well as at their cutting and distribution centre in Boucherville. The organization’s annual revenues are approximately CDN $110 million. These assets will complement Saputo’s current cheese-making activities in Canada.
About Saputo
Since 1954, Saputo has maintained its family flavour and the vitality of a team whose passion is equalled only by its know-how… and its taste for good food! Saputo employs 7,500 individuals in its 42 plants and its distribution centres. Well established in the dairy and grocery products sectors, its products are offered under the brand names of Saputo, Stella, Frigo, Dragone, Armstrong, Caron, Cayer, Treasure Cave, Dairyland, Baxter, Nutrilait, La Paulina, Ricrem and Vachon. Saputo is the largest dairy processor in Canada, one of the largest cheese producers in North America and the third largest dairy processor in Argentina. Saputo Inc. is a public company whose shares are listed on the Toronto Stock Exchange under the symbol SAP. Visit our website at www.saputo.com.
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Information
Claude Pinard
Vice President, Communications
(514) 328-3381
Pour plus d'information:
Camillo Lisio
vice-président exécutif
(514) 328-3314
