Saputo set to acquire natural cheese maker

Saputo Inc. has agreed to pay $85 million to acquire the activities of F&A Dairy Products, Inc. conducted at manufacturing facilities located in Las Cruces, New Mexico, and Dresser, Wisconsin. F&A manufactures natural cheeses, such as mozzarella and provolone, that are distributed in the United States and Mexico. The company, which employs approximately 170 people, generated revenues of approximately $163 million over the 12-month period ending on Aug. 31, 2018.

The transaction is expected to close by the end of 2018, subject to customary conditions and regulatory approval.