MONTREAL - Saputo Inc. has expanded its global presence as it entered the British dairy market with the closing of a $1.7-billion deal to acquire Dairy Crest Group plc. The transaction announced Feb. 22 was payable in cash from a new bank loan. A sign at a Montreal Saputo plant is shown on Jan.13, 2014. ( Ryan Remiorz / THE CANADIAN PRESS )Dairy Crest manufactures and sells cheese, butters, spreads and oils under British brands such as Cathedral City, Clover, Country Life and Frylight. For the 12 months ended March 31, it had about $796 million in revenue and $260 million in after-tax profits, including $172 million in exceptional items.

Source: thestar April 15, 2019 16:13 UTC