Saputo Inc. announced that it has entered into an agreement to acquire Betin, Inc., doing business as Montchevre. Its activities are conducted at one manufacturing facility located in Belmont, Wisc. The business employs approximately 319 people.
Montchevre manufactures, markets and distributes goat cheese in the United States, mainly under the Montchevre brand. For the twelve-month period ended on June 30, 2017, Montchevre generated revenues of approximately CDN$150 million.
The transaction will enable the Cheese Division (USA) of Saputo to broaden its presence in specialty cheese in the United States.
The transaction is subject to customary conditions (including regulatory approval) and is expected to close by the end of 2017.