Saputo Inc. declared today that the agreement that it announced on December 18, 2000 to acquire the fluid-milk and cheese operations as well as certain joint-venture interests of "Agrifoods International Cooperative Limited", more commonly known as "Dairyworld Foods", was approved by the cooperative's delegates at a meeting held on January 12, 2001. Closing of the transaction is subject to the usual conditions (including approval by the Competition Bureau) and is still expected by the end of January 2001.