View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 1, 2021

Saputo seeks to strengthen US arm through North Carolina dairy deals

The Canadian firm has purchased the Carolina Aseptic and Carolina Dairy businesses formerly operated by AmeriQual Group Holdings .

Canadian dairy major Saputo has bolstered its US operations with the acquisition of two North Carolina businesses focused on growth segments.

It has purchased the Carolina Aseptic and Carolina Dairy businesses formerly operated by AmeriQual Group Holdings for US$118m.

The businesses, which will join Saputo’s Dairy Division (USA), are based at two facilities in North Carolina and together employ approximately 230 people.

Carolina Aseptic develops, manufactures, packages, and distributes aseptic shelf-stable food products and beverages out of a purpose-built facility in Troy, North Carolina.

Carolina Dairy manufactures, packages, and distributes refrigerated yogurt in spouted pouches in Biscoe, North Carolina.

Saputo suggested the acquisition of these businesses will better position it to capture the growing demand for aseptic protein beverages and nutritional snacks.

Saputo CEO Lino Saputo said: “This investment aims to reinforce the strength of Saputo’s core business by increasing our capacity to manufacture and distribute products in the rapidly growing aseptic beverage and food categories, as well as the nutritional snacks space.”

In July, the company expanded its UK presence through M&A with a deal for cheese maker Wensleydale Dairy Products. The deal followed Saputo’s acquisition in May of dairy-free cheese manufacturer Bute Island Foods, located on the Isle of Bute off the coast of Scotland.

June also saw Saputo unveil a new four-year strategic plan and reiterate its intentions to expand through M&A with an investment guideline of CAD2.5bn (US$1.98bn) to CAD3bn.

Related Companies

Free Report
img

VC funding trends to watch out for in Consumer

Consumer industry investors across the world are betting big on the ESG trend to pick up in the future and are focusing on backing the start-ups and emerging companies working in the meat-alternative products category.   The top two deals in this category were the $500 million investment raised by Impossible Foods and the $347 million investment deal for Future Meat Technologies.  GlobalData’s Venture Capital Investments – Consumer 2021 will help you dive into the capital raising landscape across regions and themes.  Use the report to identify emerging signals and trends across Consumer, formulating winning strategies for the road ahead.   
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU