Saputo Inc., a Montreal, Canada-based cheese producer, plans to purchase Waupun WI-based Alto Dairy Cooperative for $160 million in cash. The agreement would be a key step toward Saputo’s goal of attaining a greater presence in the United States.
Alto’s board of directors has consented to the purchase, which remains subject to the approval of the cooperative’s members when they convene February 27, as well as regulatory approval. Completion of this transaction is expected in March 2008.
A producer of mozzarella and provolone, Alto also makes American-style cheeses such as Cheddar, Gouda, Monterey Jack, and Muenster. The firm also manufactures whey products. With 467 employees, Alto has facilities in Waupun and Black Creek WI.
