Canadian dairy company Saputo has agreed to acquire U.S.-based mozzarella and provolone cheeses maker F&A Dairy Products in a deal worth approximately $85 million.
The company will acquire F&A’s two manufacturing facilities located in Las Cruces, New Mexico, and Dresser, Wisconsin as part of the deal, as well as the company’s 170 employees.
Saputo said that the acquisition of F&A Dairy Products’ activities will add to and complement the activities of its Cheese Division (USA).
The acquisition is subject to regulatory approval, and Saputo estimates that the transaction will close by the end of 2018. For the financial year ending on August 31, 2018, F&A registered revenues of approximately $163 million.