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|Traded as||TSX: SAP|
|Industry||Food - Major Diversified|
|Canada, United States, Argentina, Australia|
|Revenue||C$11.2 billion (2017)|
|C$731.1 million (2017)|
Number of employees
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.[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, and Australia, and the company's products are sold in over 40 countries worldwide. It also operated in the UK and Germany from 2006 to 2013. Saputo is the largest dairy processor in Canada, one of the top three dairy processors in Argentina, and among the top four in Australia. 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. About half of its revenues come from its United States operations.[non-primary source needed] Saputo used to own the Canadian rights to Hostess Brands products, including the Twinkie.
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.[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.
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. 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. 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. In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465 million. Saputo announced in 2012 it would buy Morningstar Food for US$1.45 billion. 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. 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. 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. Saputo acquired all the remaining shares in March 2017.
On February 3, 2015, Canada Bread Company Limited completed a C$120 million acquisition of Saputo Bakery, a division of Saputo Inc. Canada Bread Company Limited is a subsidiary of Mexico's Grupo Bimbo.
In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. In November 2017, According to the reports, Saputo acquired Betin Inc. a Belmont specialty cheese maker with a facility that employs 319 workers.
On February 22, 2019, it was announced that Saputo would be buying British dairy company, Dairy Crest. The company was valued at C$1.7 billion (£975 million). The transaction was completed on April 15, 2019.
Brands by Saputo include: Saputo, Alexis de Portneuf, Armstrong, Coon, Cracker Barrel (trademark used under licence), Dairyland, DairyStar, Friendship Dairies, Frigo Cheese Heads, Jimmy Johns, Little Caesars, La Paulina, Milk2Go, Neilson, Nutrilait, Scotsburn (trademark used under license), Stella, Sungold, Treasure Cave and Woolwich Dairy.
- Dairy Division (Canada)
- Cheese Division (US)
- Dairy Foods Division (US)
- Dairy Division (Argentina)
- Dairy Division (Australia)
- Dairy Ingredients Division
- Dairy Division (UK)
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