Saputo Inc. of Montreal plans to sell its Argentina dairy business to Gloria Foods for about $885 million.
Gloria Foods is part of Groupo Gloria of Peru.
“Today’s announcement reflects our efforts to refine our global footprint for long‑term growth. The value to be realized recognizes both the operational excellence of the team and the market strength of the brands they built,” said Carl Colizza, Saputo’s president and chief executive officer.
“This divestiture enhances our financial flexibility and supports targeted reinvestment in platforms that offer the highest growth opportunities, while allowing us to maintain a portfolio of Argentina‑sourced products for our international markets.”
It has been the largest dairy processor in Argentina. Its main holdings are in Canada, the United States and Australia.
