Canadian cheese processor Saputo has acquired both a plant-based alternative cheese manufacturer and a maker of specialty dairy ingredients.
Saputo has acquired Bute Island Foods, a manufacturer of Sheese, a vegan brand of plant-based cheese. The company is located on Bute Island, off the west coast of Scotland. Bute Island Foods produces private label products as well as Sheese and employs about 180 people.
In addition, Saputo has entered into an agreement to buy a manufacturing facility from Wisconsin Specialty Protein LLC. Located in Reedsburg, Wis., the plant makes goat milk whey, organic lactose and other dairy powders. The two acquisitions will cost Saputo about C$187 million, or about U.S. $155 million.
“We are delighted to welcome the Bute Island Foods team and the wealth of knowledge they bring to our global family,” Lino Saputo, CEO and board chair, said in a statement. “Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers. This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities.”
