Dairy giant Saputo has completed its transaction to purchase Dairy Crest, a United Kingdom-based dairy company. The final sale for £975 million (approximately $1.7 billion) was first announced on February 22, 2019, and finalized April 15, 2019.
According to a news release, Dairy Crest manufactures and markets cheese, butters, spreads and oils, under leading British brands, such as Cathedral City, Clover, Country Life and Frylight, and value-added dairy ingredients. Dairy Crest employs approximately 1,100 people in seven locations across the UK.
Less than a year ago Saputo purchased two large dairy processing facilities in the United States.