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Thursday, February 6, 2014

Dairy Saputo looks to U.S., abroad for acquisitions, (TSE: SAP.TO)

Canadian dairy Saputo Inc, closing in on a big purchase in Australia, is considering further buys in Australia, New Zealand, Brazil and the United States, CEO Lino Saputo Jr. said on Thursday. Saputo won majority control in January of Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd , with its offer scheduled to close on Feb. 12.

Saputo Inc. is a dairy processor in Canada and cheese producer in the United States. Shares of SAP traded higher by 1.66% or $0.86/share to $52.75. 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 169879.