Saputo finalises sale of milk processing facilities to Coles Group
Saputo announced on 24 June 2024 that it has completed the sale of two fresh milk processing facilities located in Laverton North, Victoria, and Erskine Park, New South Wales, to Coles Group Limited.
The proposed sale was first announced back in April 2023 but was subject to clearance from the Australian Competition and Consumer Commission (ACCC). After addressing some preliminary concerns raised about the dairy supply chain and raw milk market in NSW, the ACCC announced in December 2023 that it would not oppose Coles’ proposed acquisition of two milk processing plants from dairy processor Saputo.
Currently, Coles and Saputo both acquire raw milk from dairy farmers in Victoria and NSW. Coles previously had its milk processed at the Erskine Park and Laverton plants by Saputo. Now, Saputo will have its raw milk processed by Coles at these facilities under similar arrangements.
As part of the sale, Saputo is maintaining its valued farmer relationships in Australia and will continue to have fresh milk products processed at the two manufacturing facilities. The employment of approximately 48 people across the two sites was transferred to Coles Group Limited.
“This sale reinforces our roadmap for long-term success in Australia and demonstrates our agility in further adapting our manufacturing footprint to focus on higher-value growth opportunities,” said Lino A Saputo, Chair of the Board, President and CEO.
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