MONTREAL, QUEBEC--(Marketwired - May 23, 2018) - Saputo Inc. ("Saputo" or the "Company") (TSX:SAP) announces today that it has
entered into an agreement to acquire the activities of Shepherd Gourmet Dairy (Ontario) Inc. ("Shepherd Gourmet"). Its activities
are conducted at one manufacturing facility located in St. Marys, Ontario (Canada). The business employs approximately 90
people.
The purchase price of CDN$100 million, on a debt-free-basis, will be paid in cash from cash on hand and available credit
facilities.
Shepherd Gourmet manufactures, markets and distributes a variety of specialty cheeses, yogurt, as well as Skyr Icelandic-style
yogurt in Canada. For the twelve-month period ended on April 30, 2018, Shepherd Gourmet generated revenues of approximately
CDN$57 million.
The transaction will enable the Company's Dairy Division (Canada) to increase its presence in specialty cheese and expand its
yogurt offering in Canada.
The transaction is subject to customary conditions and is expected to close in June 2018.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements are
based, among other things, on Saputo's assumptions, expectations, estimates, objectives, plans and intentions as of the date
hereof regarding projected revenues and expenses, the economic, industry, competitive and regulatory environments in which the
Company operates or which could affect its activities, its ability to attract and retain customers and consumers, as well as the
availability and cost of milk and other raw materials and energy supplies, its operating costs and the pricing of its finished
products on the various markets in which it carries on business.
These forward-looking statements include, among others, statements with respect to the Company's short and medium-term
objectives, outlook, business projects and strategies to achieve those objectives, as well as statements with respect to the
Company's beliefs, plans, objectives and expectations. The words "may", "should", "will", "would", "believe", "plan", "expect",
"intend", "anticipate", "estimate", "foresee", "objective", "continue", "propose" or "target", or the negative of these terms or
variations of them, the use of conditional or future tense or words and expressions of similar nature, are intended to identify
forward-looking statements.
By their nature, forward-looking statements are subject to a number of inherent risks and uncertainties. Actual results could
differ materially from the conclusion, forecast or projection stated in such forward-looking statements. As a result, the Company
cannot guarantee that any forward-looking statements will materialize. Assumptions, expectations and estimates made in the
preparation of forward-looking statements and risks that could cause actual results to differ materially from current
expectations are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to
time, including the "Risks and Uncertainties" section of the Management's Discussion and Analysis included in the Company's 2017
Annual Report.
Forward-looking statements are based on Management's current estimates, expectations and assumptions, which Management
believes are reasonable as of the date hereof, and, accordingly, are subject to changes after such date. You should not place
undue importance on forward-looking statements and should not rely upon this information as of any other date.
To the extent any forward-looking statement in this document constitutes financial outlook, within the meaning of applicable
securities laws, such information is intended to provide shareholders with information regarding the Company, including its
assessment of future financial plans, and may not be appropriate for other purposes. Financial outlook, as with forward-looking
information generally, is based on current estimates, expectations and assumptions and is subject to inherent risks and
uncertainties and other factors.
Except as required under applicable securities legislation, Saputo does not undertake to update or revise these
forward-looking statements, whether written or verbal, that may be made from time to time by itself or on its behalf, whether as
a result of new information, future events or otherwise.
About Saputo
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk,
extended shelf-life milk and cream products, cultured products and dairy ingredients. Saputo is one of the top ten dairy
processors in the world, the largest cheese manufacturer and the leading fluid milk and cream processor in Canada, the top dairy
processor in Australia and the second largest in Argentina. In the USA, Saputo ranks among the top three cheese producers and is
one of the largest producers of extended shelf-life and cultured dairy products. Our products are sold in several countries under
well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel*, Dairyland, DairyStar, Devondale,
Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait's Go, Montchevre, Murray Goulburn, Neilson, Nutrilait,
Scotsburn*, Stella, Sungold, Treasure Cave and Woolwich Dairy. Saputo Inc. is a publicly traded company and its
shares are listed on the Toronto Stock Exchange under the symbol "SAP".
*Trademark used under licence.