Posts tagged "Saputo"

Murray Goulburn sale delayed

[2 February/The Australian] Murray Goulburn believes that its AUD1.31 billion sale to Canadian owned dairy company, Saputo, can complete by July despite a two week delay to regulatory approvals being announced by the Australian Competition & Consumer Commission.  The ACCC said that it required more time to consider data relating to the two businesses and...

Saputo buys Australia’s Murray Goulburn for A$1.3b

[27 October/New Zealand Herald] Australia’s largest dairy company, Murray Goulburn, will be bought by Canadian food giant Saputo for AU1.31 billion. Fonterra has expressed interest in the dairy group, which reported a loss of AU37 million for the 2016/17 year. The transaction includes milk supply commitments for Murray Goulburn suppliers totalling about AU114m. Murray Goulburn...

Saputo decries animal abuse [2 June/ The Globe and Mail]

Saputo has responded to a publicised video of animal abuse at one of its milk suppliers, by announcing a new policy on livestock welfare. The company is also to spend CAD 1 million sponsoring animal-care education at both the University of Guelph in Ontario and University of Wisconsin-Madison. Agriculture Consultant, Bertrand Montel said the video...

Saputo’s WCB win falls short

 [14 February/ The Australian, Australia] Canadian dairy company Saputo, has emerged from the takeover battle for Warrnambool Cheese and Butter victorious but having only secured 87.9% of the shares of the company it is unable to take home the prize through completing a compulsory acquisition.  Saputo said in a statement it looked forward to working...

Saputo eyeing ‘growth opportunities’ in Brazil, NZ

 [10 February/ The Dairy Reporter] Saputo, with operations in Canada, US, Argentina and Australia, has recently secured the acquisition of a majority stake in Australian Warnambool Cheese and Butter and US based Morningstar. Saputo CEO, Lino Saputo expressed that the company plans to build on the acquisitions. The company is focused on expanding its presence...

Murray Goulburn sells out of Warrnambool Cheese & Butter battle and accepts Saputo’s offer

[23 January/ Sydney Morning Herald] Murray Goulburn has announced that it will sell its 17.7% stake in Warrnambool Cheese & Butter, netting around A$93 million and officially marking the end of its bid to take control of the dairy producer.  The decision takes Canadian dairy company, Saputo’s stake in Warrnambool, the small Victorian processing company...

Is Fonterra chasing Australian expansion

[9 January/ Australian Financial Review] Sources say that Fonterra has been quite candid about its desire to own New South Wales based Bega Cheese in conversations with investors.  Fonterra has built a 9% interest in the company have acquired an initial 6% interest in October.  It has justified the purchase as protecting commercial arrangements it...

Fonterra spends another A$14.7 million to lift Bega stake

[29 November/ National Business Review] Fonterra has spent another A$14.7 million to lift its stake in Australian dairy company, Bega Cheese, buying 3 million shares at A$4.89 a piece.  Fonterra now holds a 9.06% stake in Bega, a stake that has been developed while Bega has been involved in the takeover battle for Warrnambool Cheese...