Saputo Completes the Sale of Two Milk Processing Facilities

Saputo Inc. announced that it has completed a previously announced sale of two fresh milk processing facilities located in Laverton North, Victoria, Australia and Erskine Park, New South Wales, Australia to Coles Group Limited, an Australian-based supermarket, retail and consumer services chain, in a transaction valued at approximately $95 million CDN ($69 million). The completion of this transaction is part of the company’s overall network optimization strategy, one of the pillars of its Global Strategic Plan.

“This sale reinforces our roadmap for long-term success in Australia and demonstrates our agility in further adapting our manufacturing footprint to focus on higher-value growth opportunities,” says Lino A. Saputo, chair of the board, president and CEO.