Saputo acquires Fromage Cote S.A. and Distributions Kingsey Inc.

19/04/05 Saputo Inc. has completed the acquisition of the manufacturing, marketing and distribution activities of Fromage Cote S.A. and Distributions Kingsey Inc. for their pressed cheddar and cheddar cheese curd, Swiss-type cheese and other specialty cheeses sold under the brand names Kingsey, Princesse, Sir Laurier d'Arthabaska and Du Village de Warwick. The purchase price is CDN $52.9 million on a debt-free basis, payable in cash.

Fromage Cote S.A. and Distributions Kingsey Inc. employ approximately 400 people in Quebec at their plants in Warwick and Plessisville, at their cheese aging centre in Victoriaville, as well as at their cutting and distribution centre in Boucherville. The organization's annual revenues are approximately CDN $110 million. These assets will complement Saputo's current cheese-making activities in Canada.