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Industry NewsSaputo still on the lookout for acquisitions

Saputo still on the lookout for acquisitions


Following the announcement of its yearly earnings at the beginning of July, Saputo made it clear that its recent major acquisitions – of Shepherd Gourmet and Australian dairy cooperative Murray Goldbourn – may be just the beginning.
CEO Lino Saputo Jr. told investors that the company still has upward of $3 B in the clear to finance further acquisitions and that it is actively looking for possibilities. As many as five candidates could be under consideration, two or three of them possibly in Canada, Saputo said.
“Our pipeline remains extremely full,” he said. There are ”four to five files that we are working on and they are doable files.”
For fiscal 2018, Saputo’s earnings rose 3.4 per cent to $11.5 B. Its net earnings of $852 M were up almost 17 per cent from the previous year.

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