Canada-based Saputo Inc. entered into an agreement to acquire Murray Goulburn Co-Operative Co. Ltd. (MG), based in Australia. The transaction is expected to close in the first half of calendar year 2018.

MG produces a full range of high-quality dairy foods, including drinking milk, milk powder, cheese, butter and dairy beverages, as well as a range of ingredient and nutritional products, such as infant formula under the Devondale, Liddells and Murray Goulburn Ingredients brands to retail and foodservice industries globally. MG maintains approximately 2,300 employees and operates 11 manufacturing facilities across Australia and China.

The acquisition of MG will add to and complement the activities of Saputo's dairy division in Australia. By acquiring a well-established industry player, the company reinforces its commitment to strengthen its presence in the Australian market.