USA – US cheese producer Saputo Inc. has announced that it has entered into an agreement to acquire Betin, Inc., doing business as Montchevre, in a bid to expand its presence in the cheese market.
Montchevre manufactures, markets and distributes goat cheese in the United States, mainly under the Montchevre brand.
It produces its products at a manufacturing facility located in Belmont, Wisconsin, USA. It employs about 319 people.
Montchevre generated revenues of approximately CDN$150 million in the last 12-month period.
The transaction, which is subject to customary conditions, will enable the Cheese Division (USA) of Saputo to broaden its presence in specialty cheese in the United States.
The transaction is subject to customary conditions, including regulatory approval, and is expected to close by the end of the year.
Saputo produces, markets, and distributes a wide array of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients.
It is also one of the top ten dairy processors in the world and the largest cheese manufacturer and a leading fluid milk and cream processor in Canada.
The company’s products are sold in several countries under brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel, Dairyland, DairyStar, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait’s Go, Neilson, Nutrilait, Scotsburn, Stella, Sungold, Treasure Cave and Woolwich Dairy.
The transaction, the value of which was not disclosed, is expected to close by the end of 2017