Canadian dairy company Saputo has agreed to acquire the extended shelf-life (ESL) dairy product activities of cooperative Southeast Milk.
The ESL processing activities are conducted at a manufacturing facility in Plant City, Florida. The business employs approximately 66 people.
Neither Saputo nor Southeast Milk disclosed financial terms of the deal, but for the 12 months to the end of June, the business unit’s activities generated annual revenues of approximately CDN 59 million ($47 million).
Saputo said the deal would “add to and complement the activities of Saputo’s Dairy Foods Division (USA)”.
The transaction is subject to customary conditions and is expected to close by the end of September.
© FoodBev Media Ltd 2017