The total consideration of $160 million on a debt-free basis will be paid in cash by drawing on available lines of credit. The transaction is subject to the usual conditions (including approval by the U.S. Anti-Trust authorities) and is expected to close in the course of March 2008.
Alto produces Italian- (mozzarella and provolone) and American-style cheeses (Cheddar varieties, Monterey Jack, Muenster, Fontina and Gouda), as well as whey products, which are marketed nationwide under a variety of brand names and private labels.