SUBSCRIBE

Breaking News on Dairy Processing & Markets

Trends > Emerging Markets

News in brief

Saputo to acquire Southeast Milk extended shelf-life dairy capabilities

1 comment
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.

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

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!

Report abuse

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

Key Industry Events

 

Access all events listing

Our events, Shows & Conferences...