Saputo Inc.

Saputo Inc.
Public
Traded as TSX: SAP
Industry Food - Major Diversified
Headquarters Montreal, Quebec, Canada
Area served
 Canada, Argentina, United States, Australia
Key people

Lino Saputo (Executive Chairman)

Lino A. Saputo, Jr. (Vice-Chairman, CEO, President)
Revenue C$9.85 billion (2014)[1]
C$499.50 million (2014)[1]
Number of employees
 12,000 (2014)[1]
Subsidiaries
Website www.saputo.com

Saputo Inc. is a Montreal-based Canadian dairy company. Founded as a cheese making company in 1954 by Italian immigrant Giuseppe Saputo, today Saputo's business includes dairy products, and it is the tenth largest dairy processor in the world.[2] After growing in its home region of Quebec, the company has expanded by mergers and acquisitions.

Saputo operates in Canada, as well as in the United States, Argentina and Australia. The Company operated in Wales and Germany from 2006 to 2013.[3] It is the largest dairy processor in Canada,[4] third largest in Argentina, and the second largest cheese maker in the United States.[5] About a third of its revenues come from the company's United States operations. Saputo owns the Canadian rights to Hostess Brands products, including the Twinkie.[6]

History

Saputo plant, Montreal

Saputo acquired Dairyworld Foods and its stable of brands including "Dairyland" milk and "Armstrong" cheese, which was the production and marketing arm of Agrifoods International Cooperative Ltd, in 2001 for C$407 million.[7][8] 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 2008, Saputo continued its series of acquisitions by purchasing Neilson Dairy from George Weston Limited for C$465 million.[9]

Saputo announced in 2012 it would buy Morningstar Food for US$1.45 billion.[10] 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.[11]

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.[12]

On February 3, 2015, Canada Bread Company Limited completed a C$120 million acquisition of Saputo Bakery, a division of Saputo Inc..[13] Canada Bread Company Limited is a subsidiary of Mexico's Grupo Bimbo.[13]

Brands

The number of trade-marks is large. There are 650 trade-marks registered in Canada.[14] Brands by Saputo include: Saputo, Alexis de Portneuf, Armstrong, Baxter, Black Creek "Wisconsin Classic", Dairyland, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads, Great Midwest, King's Choixe, Kingsey, La Paulina, Milk2Go, Neilson, Nutrilait, Ricrem, Salemville, Stella, Sungold, Scotsburn and Treasure Cave.[15]

Subsidiaries

See also

References

  1. 1 2 3 Karl Moore. "Saputo on the Forbes Global 2000 List". Forbes. Retrieved November 14, 2015.
  2. ↑ "Home - Candidates". Saputo. Retrieved June 5, 2014.
  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. ↑ "Leading U.S. cheese producers". Cheese Market News. Retrieved February 10, 2015.
  6. ↑ Ben Popken, TODAY contributor (November 19, 2012). "Twinkie's last stand: It's up to a mediator - TODAY.com". Lifeinc.today.com. Retrieved November 15, 2013.
  7. ↑ "Saputo Inc. spends $407 million for Dairyworld Foods". CBC News. December 18, 2000.
  8. ↑ "Inc. announces an agreement to acquire Dairyworld Foods - Investors and Media". Saputo. Retrieved November 15, 2013.
  9. ↑ Gazette, Montreal (October 22, 2008). "Saputo acquires George Weston's Neilson dairy". Canada.com. Retrieved November 15, 2013.
  10. ↑ Bertrand Marotte (December 3, 2012). "Saputo buys U.S. dairy company Morningstar for $1.5-billion". The Globe and Mail. Retrieved November 15, 2013.
  11. ↑ "Scotsburn sells off its fluid milk business to Saputo". CBC News. January 17, 2014. Retrieved February 28, 2014.
  12. ↑ "Saputo Announces Takeover Offer for Warrnambool Has Closed /publisher=Investors and Media Saputo" (PDF). February 12, 2014. Retrieved January 28, 2015.
  13. 1 2 "Mexico's Grupo Bimbo acquires Saputo Bakery". Fox News Latino. Retrieved February 4, 2015.
  14. ↑ "Advanced Search - Canadian Trade-marks Database - Canadian Intellectual Property Office". Ic.gc.ca. Retrieved November 15, 2013.
  15. ↑ "Company Profile". Saputo.com. April 1, 2013. Retrieved November 15, 2013.
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