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Saputo to acquire Southeast Milk extended shelf-life dairy capabilities

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Mary Ellen Shoup

By Mary Ellen Shoup+

05-Sep-2017
Last updated on 06-Sep-2017 at 12:59 GMT2017-09-06T12:59:52Z

Southeast Milk's extended shelf life processing activities are conducted at one manufacturing facility located in Plant City, Florida.
Southeast Milk's extended shelf life processing activities are conducted at one manufacturing facility located in Plant City, Florida.

Canadian dairy producer, Saputo, has entered an agreement to acquire the extended shelf-life dairy product capabilities of Southeast Milk Inc. of Florida in a deal worth US$47m (C$59m). 

The transaction is expected to close on or around Sept. 29, 2017, Saputo said.

Saputo will be taking over Southeast Milk’s extended shelf life processing and manufacturing facility in Plant City, Florida, which employs approximately 66 people. 

Saputo acquired Morningstar Foods from Dean Foods in January 2013, giving the company its first foothold in the US with the offering of dairy and non-dairy extended shelf life products.

The acquisition also adds to Saputo’s Dairy Foods Division in the US that currently includes Dairystar and Friendship Dairies, manufacturer of cottage cheese, sour cream, and buttermilk.

Avoiding closure

The Florida-based Southeast Milk dairy was formed in 1998 following the merger of two dairy cooperatives, Florida Dairy Farmers' Association and Tampa Independent Dairy Farmers' Association, Inc. It currently encompasses members across four states (Florida, Alabama, Georgia, and Tennessee). To date, Southeast Milk processes and sells approximately 3bn lbs. of milk annually.

Before the acquisition announcement, Southeast Milk originally planned to close the Plant City extended shelf-life processing facility earlier this year after three of its vendors did not renew contracts.

Southeast Milk posted annual sales of US$47m (C$59m) for the 12-month period ending June 30, 2017.

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1 comment

Saputa

Here we go again not taking care of business. If saputa can buy this facility and buy the milk and make a profit why can't we? Giving someone else the profit that belongs to the farmer. This keeps occuring time and time again. You look at the price in the store and compare it to what the farmer gets. Store price never drops!

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Posted by John Benkoski
09 September 2017 | 00h182017-09-09T00:18:57Z

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