Saputo, Canada’s largest dairy firm, is to buy US co-operative Alto in a deal worth US$160m.
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Saputo, which is one of the top five cheese producers in the US, said the acquisition would allow the company to achieve a “stronger presence” south of the border.
Alto produces Italian and American-style cheeses, as well as whey products under brand names and private-label.
The acquisition remains subject to the approval of Alto’s members and the US competition watchdog but Saputo said the deal should be sealed in March.
