The business, previously owned by SVF’s wholly owned affiliate Rochester Cheese, produces private label, fresh, grated, hard Italian cheeses and private label dry, hard, grated Italian cheeses for retail, foodservice and industrial customers.
The acquisition includes Rochester’s plant at Dalbo, Minnesota. Ownership of a second plant at Spring Valley, Minnesota will remain with Rochester and hard Italian cheese production there will be moved to Dalbo.
Fonterra MD, Global Ingredients and Foodservices Andrei Mikhalevsky said the acquisition would cement DairiConcepts’ position as the number two player in the US hard Italian cheese market.
“It will also bring a more diverse product and customer mix, with scale in fresh products,” he said. “It will provide a number of strategic benefits and synergies for DairiConcepts, and therefore for Fonterra and its shareholders, and it gives us a clear position in one of the fastest-growing and most attractive cheese categories in the US market.”
“The acquisition of Rochester Cheese’s sales and marketing platform fits nicely with our current hard Italian cheese strategy, providing resources we will need to support the future of this growing category of our business,” said Neil Stockman, DairiConcepts VP of hard Italian cheese.
Source: Fonterra
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