In an historic deal, Canadian dairy giant Saputo has successfully acquired the Murray Goulburn dairy co-op for $1.31 billion (CAD).
This is excellent news for MG following their half-yearly results stating that “if the Saputo transaction does not proceed and in the absence of an alternative transaction, the group may not be able to pay a competitive milk price”.
“We are delighted to have successfully completed the acquisition of the activities of Murray Goulburn. This is a significant milestone for our Company as we become Australia’s top dairy processor. Once again, we would like to thank the farmer suppliers for their support and confidence throughout this process. We look forward to fostering these relationships as we move forward. We are also welcoming over 1,900 new employees to Saputo. We are thrilled to add their expertise to ours, and we will work together to leverage best practices and grow our business. Looking ahead, we remain committed to contributing to the sustainability of the Australian dairy industry.”
Lino A. Saputo, Jr., Chairman of the Board and Chief Executive Officer
Saputo Inc.
Lino A. Saputo, Jr., Chairman of the Board and Chief Executive Officer
Saputo Inc.
