Saputo adds UK's Dairy Crest to recent acquisitions.
Canadian Dairy Processor Saputo has made a cash offer of $1.25 billion for Dairy Crest, the UK company which processes and markets cheese, butter, spreads and oils under brands such as Clover and Cathedral cheese. It employs 1,100 workers in 7 locations in the UK. The Board has unanimously recommended the offer to shareholders.
The acquisition builds on last year's purchase of Australia's largest dairy processor, Murray Goulburn and smaller Canadian and U.S companies
The IUF Dairy Division has an established alliance of unions with members employed by Saputo to which UK affiliates Unite the Union and USDAW will now be invited to join.
Saputo will now operate in major dairy markets across four continents and is amongst the world's top ten dairy processors.