Saputo completes acquisition of Schneider Cheese

30/05/05 Saputo Inc. has completed the transaction announced on May 16, 2005 for the acquisition of the activities of Schneider Cheese, Inc., a US company that manufactures and sells string cheeses and cheese sticks under the Schneider brand name and other private labels. The purchase price of US$24.4 million was paid in cash, on a debt-free basis.

Schneider Cheese, Inc. employs approximately 160 people in the United States at its plant located in Waldo, in the state of Wisconsin. Schneider Cheese's annual revenues are approximately US$40 million. These assets will complement Saputo's current activities in the United States.