Saturday, October 20, 2018
 Saputo Finalizes Fairmount Cheese Acquisition  

Fairmount Cheese Holdings, the parent company of DCI Cheese Co., is now owned by Saputo. The specialty cheese company, which holds import licenses for cheeses made abroad, was acquired by Saputo for $270.5 million.

The purchase price of US$270.5 million on a debt free basis was paid in cash from liquidity and by drawing on available lines of credit. Saputo had announced the purchase agreement on February 17.

Saputo said that for the year ended December 31, 2010, DCI reported sales of about US$460 million, earnings before interest, income taxes, depreciation and amortization or EBITDA of about US$34 million, and sales volumes of about 160 million pounds.

DCI sells and distributes specialty cheese from a Green Bay, Wisconsin cut and wrap facility and from the Carlstadt, New Jersey distribution center. It holds import licenses for specialty cheese manufactured abroad.

Saputo said the acquisition would increase its presence in the specialty cheese category in the United States.

SAP.TO is currently trading at C$42.86, down C[Article].10 or 0.23%, on the Toronto Stock Exchange. Over the past year, the stock traded in a range of C$27.03 - C$43.40.

Source: RTT News

Posted on Monday, March 28, 2011 (Archive on Monday, April 04, 2011)
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