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Tue December 4, 2012
Saputo Buys Morningstar Foods
Canadian food company Saputo closed a $1.45 billion deal this week to buy Morningstar food brands. Morningstar has 10 manufacturing plants, including one in Murray that's home to 250 employees.
Saputo corporate spokeswoman Sandy Vassiadis says the deal is set to close at the end of December. Vassiadis says Saputo does not plan to make any changes to Morningstar's operations. She says company officials visited all the manufacturing plants, and found them well run.
Saputo is the world’s 12th largest dairy producer. Morningstar produces a variety of dairy items, and Saputo officials hope the acquisition will broaden the company’s product line.