Saputo Inc. completed the acquisition of the fluid milk activities of Scotsburn Co-Operative Services.
April 14/Montreal/Marketwired -- Saputo Inc. completed the transaction announced on January 17, 2014, and acquired the fluid milk activities of Scotsburn Co-Operative Services Limited based in Atlantic Canada. Scotsburn is a Nova Scotia cooperative that will continue its other activities such as its frozen ice cream and frozen novelties business.
The purchase price of $61 million, on a debt-free basis excludes about $8 million of working capital items and was paid by drawing on available credit lines.