Saputo
History & Overview
Saputo Inc. was founded in 1954 by Mr. Emanuele (Lino) Saputo, Chairman of the Board of Saputo, with his parents in 1954, and producing quality cheese for the Italian community of Montréal.
During the seventies, Saputo acquired several production operations and food distributors, and developed its national distribution network, positioning itself in Canada as a leading producer of mozzarella.
During the 1980's, Saputo established itself outside of Canada for the first time with the acquisition of 2 plants in the United States.
In 1997, the Company completed its initial public offering in TSX. Saputo’s immediate family controls 35 per cent of the company, while his extended family including aunts, uncles and cousins controls roughly another 25 per cent.
In 2006 Saputo enters the European market by acquiring controlling interest in a cheese producing company based in Germany.
In 2007 Saputo once again enters the European market by acquiring controlling interest in Dansco Dairy Products Limited based in Wales, in the United Kingdom.
On February 25, 2013, the Company announced the closure of its facilities in Europe.
On January 22, 2014, Saputo has passed the critical 50 per cent mark in its takeover target Warrnambool Cheese and Butter. Saputo's holding in WCB is currently 52.7%.
Structure
The company operates its business through two sectors and five divisions, the Dairy Products Sector and the Grocery Products Sector.
The Canada, Europe and Argentina (CEA) Dairy Products Sector consists of the Dairy Products Division (Canada), the Dairy Products Division (Europe) and the Dairy Products Division (Argentina);
The USA Dairy Products Sector consists of the Dairy Products Division (USA) and the Grocery Products Sector consists of the Bakery Division.
Dairy Products Sector
The Dairy Products Sector principally includes the production