From Canada to Peru: 80% of Saputo Argentina's activity was sold to Grupo Gloria

The Canadian company Saputo Inc. announced the signing of a definitive agreement with Gloria Foods, the food holding of the Gloria Group, to divest 80% of its dairy division in Argentina. According to official information, the operation values the business at around 855 million Canadian dollars, which is approximately 630 million US dollars and will allow Saputo to retain a minority stake of 20%. According to the statement accessed by Bichos de Campo, the company expects to obtain net income, after taxes, of around 400 million dollars, subject to usual adjustments.