Canadian cheese-maker Saputo has posted a 21% increase in first-quarter profits, which were lifted by higher pricing and sales from acquisitions.


Canada’s largest cheese manufacturer booked earnings of C$83m (US$79.2m), up from C$68.4m a year earlier.


Revenue was up 11% to C$1.36bn, boosted by the company’s US$160m acquisition of Wisconsin-based dairy firm Alto Dairy Cooperative in April. The company was also successful in pushing through a number of price increases during the quarter.


The strength of the Canadian dollar hit earnings, reducing profits by C$44m, the company said.


Speaking to analysts during the group’s earning conference call, CEO Lino Saputo Jr. remained coy on whether the company was interested in acquiring Australia’s Dairy Farmers.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

“There is consolidation going on in our industry,” Saputo said. “We believe that there will be some opportunity … [to] look at dossiers both in the United States and in Australia, as well as other parts of the world, like Europe and possibly New Zealand.”

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now