Wisconsin Ag Connection - Alto Dairy Members Approve Company Sale to Saputo Cheese

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Alto Dairy Members Approve Company Sale to Saputo Cheese
Wisconsin Ag Connection - 02/28/2008

The Waupun-based Alto Dairy Cooperative announced on Wednesday that its members have approved the sale of its assets to Saputo Cheese USA Inc. for total consideration of $160 million. The transaction, which was unanimously approved by Alto Dairy's board of directors last month, was supported by 98-percent of the cooperative's members who attended a special meeting in Fond du Lac yesterday.

"This is an historic day for the Cooperative," said Alto Dairy CEO Rich Scheuerman. "The approval of the sale will strengthen the business by improving the long-term viability of our manufacturing facilities, providing job stability and a long-term purchaser of milk for dairy producers in Wisconsin."

Saputo has extensive dairy experience with facilities in Canada, Argentina, Germany, United Kingdom and across the United States, which will help Alto Dairy's manufacturing facilities grow in the future. The Canadian-based firm says the deal is part of a strategic orientation that will help them expand in the U.S. market.

Saputo is one of the top 20 dairy processors in the world, the largest dairy processor in Canada, among the top five cheese producers in the United States, the third-largest dairy processor in Argentina and the largest snack-cake manufacturer in Canada. They have 15 plants in the United States, including in Wisconsin and California. Alto plants are located in Waupun and Black Creek, where they employ over 465 workers.

Alto Dairy is a 114 year-old cooperative owned by the dairy farm families who supply it with milk. They have won many awards for its American- and Italian-style cheeses.

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