- Saputo (SAP) has signed a deal to buy British cheesemaker Wensleydale Dairy Products Ltd. for C$39M
- The business, which will join Saputo’s Dairy Division (UK) under its Europe Sector, operates two facilities located in North Yorkshire and employs approximately 210 people
- The acquisition will complement and broaden its existing range of British cheeses, including Cathedral City and Davidstow cheddars
- Saputo is one of the top ten dairy processors in the world, a leading cheese manufacturer and fluid milk and cream processor in Canada, and the top dairy processor in Australia
- Saputo Inc. (SAP) is up 0.13 per cent and is trading at C$37.29 at 1:53 pm ET
Saputo (SAP) has signed a deal to buy British cheesemaker Wensleydale Dairy Products.
The business, which will join Saputo’s Dairy Division (UK) under its Europe Sector, operates two facilities located in North Yorkshire and employs approximately 210 people.
The purchase price of GBP 23 million (approximately C$39 million), on a cash-free and debt-free basis, will be paid in cash at closing.
Wensleydale Dairy Products manufactures, blends, markets, and distributes a variety of specialty and regional cheeses, including Yorkshire Wensleydale cheese, which will complement and broaden the Company’s existing range of British cheeses, including Cathedral City and Davidstow cheddars.
The business sources its milk from 40 local farms and uses its own unique cheesemaking starter cultures. With this strategic acquisition, Saputo is pleased to add another leading and prominent UK cheese brand to its portfolio.
Wensleydale Dairy Products’ range of cheeses is also exported around the world.
“Wensleydale Dairy Products is home to an immense amount of passion, care, and tradition,” said Lino A. Saputo, Chair of the Board and Chief Executive Officer, Saputo Inc.
“Not only is it a well-established British business with high-quality products and award-winning cheeses, but our corporate cultures are well-aligned, and I’m delighted to welcome the entire team into the Saputo family,” added Saputo.
Subject to UK regulatory requirements, the transaction is expected to close in the second half of July 2021.
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, a leading cheese manufacturer and fluid milk and cream processor in Canada, the top dairy processor in Australia, and the second largest in Argentina.
Saputo Inc. is a publicly-traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”.
Saputo Inc. (SAP) is up 0.13 per cent and is trading at $37.29 at 1:53 pm ET.
