Teamsters report on Saputo after its acquisition of Dean Foods Morningstar unit in USA

25-01-2013

Saputo Inc. completed the transaction to acquire Morningstar Foods, LLC, a subsidiary of Dean Foods Company. The purchase price of $1.45 billion ($ US) was financed through a combination of $250 million in available cash and a new bank loan of $1.2 billion.

Morningstar has about $1.6 billion ($ Canadian) in annual revenues, approximately 2,000 employees and operates 10 manufacturing facilities located in nine states. The combined business will have approximately 12,000 employees, 57 manufacturing facilities in five countries and combined annual revenues of approximately $8.6 billion ($ Canadian). The acquisition of Morningstar complements the activities of the Saputo Dairy Products Division (USA).

IUF affiliated Teamsters officers put up a comprehensive report on what Saputo looks like in the US after the merger.

Please find the report here [1].

The International Union of Food, Agricultural, Hotel, Restaurant, Catering, Tobacco and Allied Workers' Associations (IUF) is an international federation of trade unions representing workers employed in agriculture and plantations; the preparation and manufacture of food and beverages; hotels, restaurants and catering services; all stages of tobacco processing. The IUF is composed of 394 affiliated organizations in 126 countries representing a combined membership of around 2,6 million.

How to contact the IUF:
Email: [email protected]
Post: Rampe du Pont-Rouge, 8, CH-1213, Petit-Lancy (Switzerland)
Phone: + 41 22 793 22 33
Fax: + 41 22 793 22 38

Links:
[1] http://cms.iuf.org/sites/cms.iuf.org/files/Brief_Saputo_Jan_2013 for IUF.pdf