Saputo, the Canadian firm that acquired Cathedral City maker Dairy Crest two years ago, has bought UK-based dairy alternative cheese maker Bute Island Foods.
The Scottish firm produces plant-based, dairy-free cheese products under its Sheese brand and private label that are sold in both the retail and foodservice markets. As well as its UK presence, its products are stocked across Europe, Asia, Canada, Australia and South Africa.
Financial details of the Bute Island Foods deal were not disclosed, but it was announced alongside Saputo’s acquisition of a dairy ingredients facility from US firm Wisconsin Specialty Protein. Saputo, which also owns plant-based spread and cheese alternative brand Vitalite, said the two transactions together represented an investment of around C$187m (£110m).
For the year ended 31 December 2020, Bute Island Foods reported post-tax profits of £4.4m on turnover of £16.6m. This was up from £3.9m profit on £13.1m revenue a year earlier.
Saputo’s Chief Executive Lino Saputo commented: “We are delighted to welcome the Bute Island Foods team and the wealth of knowledge they bring to our global family.
“Our commitment remains to expand our footprint in the dairy alternatives space to meet the changing demands of our customers and consumers. This investment marks an important milestone that will allow us to accelerate our growth in this area globally, putting innovation at the forefront of our priorities.”
