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Thursday, February 6, 2014

Canadian dairy producer Saputo eyeing further buys, (TSE: SAP.TO)

Canada's largest dairy producer Saputo Inc , which recently won control of Australian dairy Warrnambool Cheese and Butter Factory Company, is hungry for further acquisitions in that country, as well as in New Zealand, Brazil and the United States, Chief Executive Lino Saputo Jr. said on Thursday.Saputo gave no indication that further big purchases are imminent, however, noting that the company had considered a play for Warrnambool for the past 10 years."Now with Warrnambool, we have a strong, solid platform in Australia, perhaps there could be other small, tuck-in businesses in Australia," Saputo said on a conference call to discuss quarterly results.Saputo's shares finished up 79 Canadian cents, or 1.5 percent, at C$52.68 in Toronto.

Saputo Inc. is a dairy processor in Canada and cheese producer in the United States. Shares of SAP traded higher by 1.52% or $0.79/share to $52.68. In the past year, the shares have traded as low as $46.01 and as high as $54.62. On average, 275619 shares of SAP.TO exchange hands on a given day and today's volume is recorded at 257272.