Canadian Manufacturing

Saputo buying specialty cheese business in Australia for $265M

Montreal-based Saputo says its specialty cheese business generated revenues of approximately $182 million in 2018

April 26, 2019  The Canadian Press

MONTREAL – Saputo Inc. has signed a deal to buy the specialty cheese business of Lion – Dairy & Drinks in Australia for roughly $265 million.

Montreal-based Saputo says the Australian business includes two manufacturing facilities in Tasmania and employs approximately 400 people.

The specialty cheese business produces, markets and distributes a variety of specialty cheeses under several Australian brands, including South Cape, Tasmanian Heritage, Mersey Valley and King Island Dairy.

It generated about $182 million in revenue in 2018.

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The deal is subject to foreign investment approval and clearance by the Australian Competition and Consumer Commission.

It is expected to close in the second half of this year.


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