Saputo Inc. Completes the Acquisition of the Activities of F&A Dairy of California, Inc.

The purchase price of US$44.5 million on a debt-free basis was paid in cash by drawing on available lines of credit. F&A Dairy of California, Inc. employs 113 employees at its facility located in Newman, California.

21/07/09 Saputo Inc. completed the transaction announced on June 23, 2009 and acquired the activities of F&A Dairy of California, Inc. which manufactures, sells and distributes, principally mozzarella, provolone and whey products.

The purchase price of US$44.5 million on a debt-free basis was paid in cash by drawing on available lines of credit.

F&A Dairy of California, Inc. employs 113 employees at its facility located in Newman, California. For the year ended December 31, 2008, it produced approximately 60 million pounds of cheese and had sales of about US$140 million.

This acquisition complements the activities of Saputo Dairy Products Division (USA).