Saputo acquires Morningstar Foods

Saputo, Inc., announced its acquisition of Morningstar Foods, LLC, a subsidiary of Dean Foods Company. Morningstar produces dairy and non-dairy extended shelf-life products such as creamers, creams, ice cream mixes, whipping cream, aerosol whipped toppings, value-added milks, and cultured products like sour cream and cottage cheese. Morningstar’s products are manufactured under various private label and its own brands. The acquisition will complement the Saputo Dairy Products Division by adding national manufacturing and distribution footprint and optimizing coast-to-coast services. The purchase price is $1.45 billion and the deal is expected to close by the end of December 2012.