Saputo acquires ingredients company and Sheese cheese alternative maker
The company has purchased established UK cheese alternative maker Bute Island Foods Ltd., which produces and distributes a variety of cheese alternative products for retail and foodservice market segments under the vegan Sheese brand, alongside private label brands.
The business employs approximately 180 people, including its founders.
“We are delighted to welcome the Bute Island Foods team and the wealth of knowledge they bring to our global fa2mily. Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers. This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities,” said Lino A. Saputo, chair of the board and CEO of Saputo.
The company said it will pledge more than C$5m over five years to support community initiatives on the small Scottish island. Saputo said it strives to invest 1% of its pre-tax profits each year in community programs and organizations that promote a healthy lifestyle for people of all ages.
The second acquisition is the Reedsburg facility of Wisconsin Specialty Protein, LLC. Located in Wisconsin, it manufactures value-added ingredients such as goat whey, organic lactose and other dairy powders and it employs approximately 40 people. This transaction is expected to close at the end of May 2021 and will enable Saputo to broaden and increase the value of its ingredients offering, enhancing its portfolio in the US and internationally.
