date:Oct 09, 2013
Saputo, a Canada-based dairy company, has entered into a $370m deal to acquire Australia's oldest dairy processor Warrnambool Cheese and Butter, as part of its efforts to expand its presence in the Asia Pacific region.
The offer has been unanimously recommended by the Warrnambool board, while directors recommend that the company's shareholders accept the offer in case no superior proposal is made.
Warrnambool operates two manufacturing facilities in South West Victoria and South Australia with