MONTREAL — Saputo Inc. (TSX:SAP) says it has completed a transaction announced on Nov. 1 to acquire Betin, Inc., doing business as Montchevre.
Its activities are conducted at one manufacturing site in Belmont, Wis., which employs about 319 people.
The Montreal-based dairy products producer says it paid about $340 million.
Montchevre manufactures, markets and distributes goat cheese in the United States, mainly under the Montchevre brand.
For the year ending June 30, 2017, Montchevre generated revenues of approximately $150 million.
Saputo had announced on Nov. 9 that it will shut down a cheese facility in Fond du Lac, Wis., next May, affecting about 126 workers.
The company said the closure will improve its operating efficiency by integrating production into a new blue cheese plant near Minneapolis.
The Canadian Press
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