The purchase price of $1.45bn was financed through a combination of $250m in available cash and a new bank loan of $1.2bn.
Morningstar produces a variety of dairy and non-dairy extended shelf-life (ESL) products, including creams and creamers, ice cream mixes, whipping cream, aerosol whipped toppings, iced coffee, half and half, value-added milks, as well as cultured products such as sour cream and cottage cheese.
Morningstar has about $1.6bn in annual revenues, approximately 2,000 employees and operates 10 manufacturing facilities located in nine US states.
Source: Saputo
© FoodBev Media Ltd 2024