Saputo Inc. has completed the transaction announced on June 23, 2009, and acquired the activities of F&A Dairy of California, Inc., which manufactures, sells and distributes mozzarella, provolone and whey products.
According to a report by Western United Dairymen, the purchase price of $44.5 million on a debt-free basis was paid in cash by drawing on available lines of credit.
F&A Dairy employs 113 at its facility located in Newman, Calif. For the year that ended December 31, 2008, it produced approximately 60 million pounds of cheese and had sales of about $140 million.
The acquisition complements the activities of the Canadian-based company.
Source: Western United Dairymen