Dairy giant Saputo buys Fairmount Cheese Holdings in bid to boost its specialty cheese business
Montreal, Que. – Saputo Inc. has announced it will acquire Deerfield, Ill.-based Fairmount Cheese Holdings Inc., the parent company of specialty cheese marketer DCI Cheese Company Inc. Montreal-based Saputo will pay US$270.5 million for the company.
Parent company Fairmount Cheese Holdings was owned by private equity firm GTCR. As well as selling 100 types of cheese, Fairmount produces dips and spreads for the retail and foodservice markets under a variety of brands.
With sales of approximately US$460 million last year, DCI is one of the largest specialty cheese marketers in the U.S., selling an estimated 160 million pounds of cheese annually. The company distributes cheese from its cut and wrap facility in Green Bay, Wis., and from its Carlstadt, N.J. distribution centre. It also holds import licences for specialty cheese markets abroad, and markets spreads, salsa, hummus and dips from a Santa Rosa, Calif. facility.