Saputo acquires Dairy Crest Group for C$1.7B
April 15, 2019
1.70 Billion CAD
On April 15, 2019, Saputo Inc. announced that it has acquired Dairy Crest Group plc for C$1.7 billion through funds drawn on a new bank term loan facility. The acquisition allows Saputo to expand its international presence and enter the UK market. National Bank Financial Markets and BMO Capital Markets acted as co-lead arrangers and joint bookrunners on the loan facility.
Saputo produces, markets, and distributes a wide array of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Based in Montreal, it is one of the top dairy processors in the world.
Dairy Crest Group is a major UK-based dairy company. It manufactures and markets cheese, butters, spreads and oils under leading British brands, including Cathedral City, Clover, Country Life and Frylight.
McCarthy Tétrault LLP advised the lead arrangers and bookrunners with a team led by Mathieu Dubord that included Marjolaine Hémond Hotte, Michel Deschamps and Eve Tessier.