Saputo Inc. (TSE:SAP) has released an update.
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Saputo Inc. has successfully finalized the sale of two of its fresh milk processing facilities in Australia to Coles Group Limited for approximately CDN$95 million, as a strategic move within its Global Plan to optimize its network and concentrate on higher-value growth prospects. The deal ensures that Saputo will maintain its farmer relationships in the region and continue to have its products processed at these sites, while the employment of around 48 staff members will be transferred to Coles Group. This sale aligns with Saputo’s commitment to long-term success and operational efficiency in Australia.
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