Saputo completed the acquisition of the fluid milk activities of Nova Scotia-based Scotsburn Co-Operative Services Ltd. Scotsburn will continue with its frozen ice cream and frozen novelties businesses. The purchase price of $61 million was paid by drawing on available credit lines and excludes $8 million in working capital items. Scotsburn’s fluid milk business includes two processing facilities located in Nova Scotia and Newfoundland. The operations are comprised of the manufacturing, selling, marketing, distributing, and merchandizing of products which include fluid milk, cream, sour cream, ice cream and cottage cheese under the Scotsburn brand. The transaction will enable Saputo, the largest dairy processor in Canada and one of the top ten dairy processors in the world to increase its presence in the Atlantic Canada region.
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