Canadian multinational Saputo has sold 80% of its main dairy division in the country to Peru's agro-industrial holding, Gloria Foods, for 543 million Canadian dollars (400 million US dollars). In a statement to its investors, accessed by the Argentine News Agency, Saputo announced that it “has entered into a definitive agreement with Gloria Foods, the dairy and food holding of Grupo Gloria, to sell an 80% stake in its Dairy Division (Argentina). The deal includes production plants in Rafaela (Santa Fe) and Tío Pujio (Córdoba), as well as historic brands like La Paulina, Ricrem, and Molfino. This division is the industry's largest milk receiver, processing over 3.5 million liters daily in 2024/2025, surpassing another giant like Mastellone Hnos – La Serenísima. Following the closure, the business will continue to manufacture selected products under the Canadian group's name, which retains 20% of the shares, but it is reducing its operations after 23 years, as it was in 2003 when it bought its plants and brands in Argentina from Molfino Hnos. Financial Flexibility. This is not a retreat due to poor performance: in the last four quarters, it generated approximately 1.2 billion dollars in revenue, representing nearly 7% of Saputo's consolidated income. “This divestiture improves our financial flexibility and supports reinvestment in platforms that offer the greatest growth opportunities, while allowing us to maintain a portfolio of Argentine-origin products for our international markets,” said Carl Colizza, President and CEO. “Today's announcement reflects our efforts to perfect our global footprint for long-term growth. The value to be realized recognizes both the operational excellence of the team and the market strength of the brands they built,” he added. Concluding, he said: “We are deeply grateful to our colleagues in Argentina for their passion, dedication, and contributions to Saputo's success, and we look forward to seeing these solid assets and brands continue to thrive under the new ownership.” Expansion in Latin America. Meanwhile, the Peruvian holding highlighted the importance of this acquisition because “it is part of the expansion strategy in Latin America and aims to strengthen its position in the regional dairy sector.” For Gloria, it is key that Saputo is one of the main players in the Argentine dairy industry, with a consolidated track record in the production and marketing of cheeses and other derivatives. “It has a significant industrial presence and a national distribution network, with recognized brands such as La Paulina, Ricrem, and Molfino. It also maintains an active participation in the export market and a solid relationship with local producers,” the company pointed out. The ranking of dairy industries prepared annually by the Argentine Dairy Chain Observatory (OCLA) ranked Saputo first for the second consecutive year in 2025, with an average daily intake of 3.53 million liters at its two plants. This means 11.6% of the total Argentine production: that is, about one in every 10 liters produced on farms is transformed into dairy products at Saputo plants, which will now be operated by Gloria Foods.
