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Saputo Inc.

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Saputo Inc.
Company typePublic
TSX: SAP
IndustryFood - Major Diversified
Founded1954
FounderLino Saputo
Headquarters
Montreal, Quebec
,
Canada
Area served
Canada, United States, Argentina, Australia, United Kingdom
Key people
Revenue C$11.2 billion (2017)[1]
C$731.1 million (2017)[1]
Number of employees
16,800 (2019)[1]
Websitesaputo.com

Saputo Inc. is a Montreal-based Canadian dairy company founded in 1954 by the Saputo family. Currently, 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 one of the top ten dairy processors in the world.[2][non-primary source needed] After growing in its home region of Quebec, the company has expanded predominantly through mergers and acquisitions.

Saputo operates in Canada, the United States, Argentina, Australia and the United Kingdom. The company's products are sold in over 40 countries worldwide. It also operated in the UK and Germany from 2006 to 2013.[3] Saputo is the largest dairy processor in Canada,[4][citation needed] one of the top three dairy processors in Argentina,[5] and among the top four in Australia.[citation needed] In the US, Saputo ranks among the top three cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products.[citation needed] About half of its revenues come from its United States operations.[6][non-primary source needed] Saputo used to own the Canadian rights to Hostess Brands products, including the Twinkie.[7]

History

Saputo plant, Montreal

Master cheesemaker Giuseppe Saputo, his son Lino Saputo and family immigrated to Montreal from Montelepre, Italy in the early 1950s. In September 1954, Lino convinced his father to start his own business. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. Saputo went through considerable growth in the 1960s and 1970s as demand for its products increased. It became Canada's largest producer of mozzarella in the 1980s.[8][non-primary source needed]

In 1988, Saputo expanded to the United States by acquiring two cheese plants. In the 1990s the company made several acquisitions that allowed it to diversify its product offering and geographic reach. In 1997, Saputo became a publicly traded company and tripled in size following the acquisition of Stella Foods in the US.[8]

In 2001, Saputo acquired Dairyworld Foods, the production and marketing arm of Agrifoods International Cooperative Ltd, which included the Dairyland milk and Armstrong cheese brands, for C$407 million.[9] Agrifoods International was itself the result of a series of mergers between dairy cooperatives in Western Canada in the 1990s. Armstrong Cheese was formerly an independent cheese maker in Armstrong, British Columbia, which was acquired by Dairyworld in 1997. After Saputo obtained the brand, it closed the plant in Armstrong.[citation needed] In 2003, Saputo continued to acquire businesses in the US and expanded into Argentina with the acquisition of Molfino Hermanos S.A.[non-primary source needed] That same year, while remaining chairman of the board Lino Saputo stepped down as President and CEO and was succeeded in this role by his son, Lino A. Saputo, Jr.[8] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465 million.[10] Saputo announced in 2012 it would buy Morningstar Food for US$1.45 billion.[11] The US company makes 2/3 of its sales from products sold to restaurants, including coffee, whipped cream, ice cream, cottage cheese and sour cream.[citation needed] In January 2014 they announced that they would be purchasing the fluid milk business of Scotsburn Co-operative Services Limited of Nova Scotia for $61 million.[12] In February 2014, Saputo acquired a relevant interest of 87.920% of Victoria, Australia dairy product firm Warrnambool Cheese and Butter Factory Company Holdings Limited shares.[13] Saputo acquired all the remaining shares in March 2017.[14]

On February 3, 2015, Canada Bread Company Limited completed a C$120 million acquisition of Saputo Bakery, a division of Saputo Inc.[15] Canada Bread Company Limited is a subsidiary of Mexico's Grupo Bimbo.[15]

In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States.[16] In November 2017, According to the reports, Saputo acquired Betin Inc. a Belmont specialty cheese maker with a facility that employs 319 workers.[17]

On February 22, 2019, it was announced that Saputo would be buying British dairy company, Dairy Crest.[18] The company was valued at C$1.7 billion (£975 million).[19][20] The transaction was completed on April 15, 2019.[21]

Brands

Brands by Saputo include: Saputo, Alexis de Portneuf,[22] Armstrong,[23] Coon,[24] Cracker Barrel[25] (trademark used under licence), Dairyland,[26] DairyStar,[27] Friendship Dairies,[28] Frigo Cheese Heads,[29] Jimmy Johns,[citation needed] Little Caesars,[citation needed] La Paulina,[30] Milk2Go,[31] Neilson,[32] Nutrilait,[33] Scotsburn (trademark used under license[34]), Stella,[35] Sungold,[24] Treasure Cave[36] and Woolwich Dairy.[37][1]

Divisions

  • Dairy Division (Canada)
  • Cheese Division (US)
  • Dairy Foods Division (US)
  • Dairy Division (Argentina)
  • Dairy Division (Australia)
  • Dairy Ingredients Division
  • Dairy Division (UK)

See also

References

  1. ^ a b c d "Corporate Information - Investors". saputo.com. Retrieved June 10, 2019.
  2. ^ "Our Company". saputo.com. June 9, 2017.
  3. ^ "Saputo bailing out of European cheese market".
  4. ^ Agriculture and Agri-Food Canada - The Canadian Dairy Industry at a Glance Archived August 15, 2012, at the Wayback Machine
  5. ^ "Saputo buys 3rd-largest Argentine dairy company". The Globe and Mail.
  6. ^ "Financial Information - Investors". saputo.com. Retrieved June 10, 2017.
  7. ^ Ben Popken, TODAY contributor (November 19, 2012). "Twinkie's last stand: It's up to a mediator". Lifeinc.today.com. Retrieved November 15, 2013. {{cite web}}: |author= has generic name (help)
  8. ^ a b c "Saputo History | Saputo". saputo.com. Retrieved June 9, 2017.
  9. ^ "Saputo Inc. spends $407 million for Dairyworld Foods". CBC News. December 18, 2000.
  10. ^ Gazette, Montreal (October 22, 2008). "Saputo acquires George Weston's Neilson dairy". Canada.com. Archived from the original on March 8, 2014. Retrieved November 15, 2013.
  11. ^ Bertrand Marotte (December 3, 2012). "Saputo buys U.S. dairy company Morningstar for $1.5-billion". The Globe and Mail. Retrieved November 15, 2013.
  12. ^ "Scotsburn sells off its fluid milk business to Saputo". CBC News. January 17, 2014. Retrieved February 28, 2014.
  13. ^ "Saputo Announces Takeover Offer for Warrnambool Has Closed" (PDF). saputo.com. February 12, 2014. Retrieved January 28, 2015.
  14. ^ Marshall, Andrew (February 22, 2017). "Saputo completes WCB takeover". www.farmonline.com.au. Retrieved August 5, 2017.
  15. ^ a b "Mexico's Grupo Bimbo acquires Saputo Bakery". Fox News Latino. Archived from the original on February 5, 2015. Retrieved February 4, 2015.
  16. ^ "Saputo Completes the Acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States". wallstreet-online.de. September 29, 2017. Retrieved October 12, 2017.
  17. ^ "Saputo buys another Wisconsin cheese manufacturer". www.bizjournals.com. Retrieved November 20, 2017.
  18. ^ "Cathedral City firm to be bought for £975m". BBC News. February 22, 2019. Retrieved February 22, 2019.
  19. ^ Onita, Laura (February 22, 2019). "Dairy Crest deal set to net boss Mark Allen £4.8 million". Evening Standard. Retrieved February 22, 2019.
  20. ^ "Canadian dairy giant Saputo enters U.K. market with $1.7B deal for Dairy Crest". thestar.com. April 15, 2019.
  21. ^ "Saputo completes acquisition of Dairy Crest". Food Manufacture. April 18, 2019. Retrieved April 19, 2019.
  22. ^ "Alexis de Portneuf (Saputo)". Canadian Dairy Information Centre. March 16, 2017. Retrieved August 5, 2017.
  23. ^ "Armstrong Pizza Mozzarella Cheese made by Saputo". The Food Wiki. Retrieved August 5, 2017.
  24. ^ a b Neales, Sue (June 10, 2016). "Warrnambool owner Saputo flags fresh dairy pain". The Australian. Retrieved August 5, 2017.
  25. ^ "Saputo poised to take total control of Warrnambool Cheese & Butter". The Australian. January 31, 2017. Retrieved August 5, 2017.
  26. ^ "HEALTH HAZARD ALERT - DAIRYLAND brand 1 % chocolate milk may contain a chemical sanitizer". www.canada.ca. October 22, 2005. Retrieved August 5, 2017.
  27. ^ "UPC 040900281888 DairyStar Saputo". Buycott.com. August 2, 2017. Retrieved August 5, 2017.
  28. ^ Briodagh, Kenneth (August 14, 2013). "Inside Friendship Dairies' Social Media Startup Strategy". www.eventmarketer.com. Retrieved August 5, 2017.
  29. ^ "Frigo Cheese Heads Now Available in Bold New Flavors". Wisconsin Milk Marketing Board. 2015. Retrieved August 5, 2017.[dead link]
  30. ^ "Saputo to buy Argentine dairy processor". The Globe and Mail. October 2, 2003. Retrieved August 5, 2017.
  31. ^ Astley, Mark (October 4, 2013). "Saputo enters sports recovery arena with high-protein Milk2Go extension". www.dairyreporter.com. Archived from the original on April 12, 2017. Retrieved August 5, 2017.
  32. ^ "Neilson chocolate milk recalled due to listeria concerns". CBC News. June 4, 2016. Retrieved August 5, 2017.
  33. ^ "Saputo repositions Nutrilait milk brand for a messy life". Marketing. July 24, 2015. Retrieved August 5, 2017.
  34. ^ Shannon, Chris (March 23, 2016). "Workers 'in shock' over Sydney dairy closure". Cape Breton Post. Archived from the original on August 5, 2017. Retrieved August 31, 2019.
  35. ^ "Saputo launches fresh mozzarella products under Stella brand". FoodBed Media. May 10, 2016. Retrieved August 5, 2017.
  36. ^ "Saputo, Chunk Feta Cheese - Treasure Cave". Open Food Facts. March 9, 2017. Retrieved August 5, 2017.
  37. ^ "Saputo buys goat cheesemaker Woolwich Dairy". AGCanada.com. October 6, 2015. Retrieved August 5, 2017.
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