Land O’Lakes concludes sale of CPI
Apr 3, 2007 8:41 AM
Land O’Lakes Inc has completed the sale of its Cheese & Protein International (CPI) operations, based in Tulare CA, to a United States subsidiary of Saputo Inc. The sale includes substantially all of CPI’s cheese manufacturing operations and cut-and-wrap operations, formally known as Golden Valley Dairy Products. The transaction includes a long-term milk supply agreement, under which Land O’Lakes will be the full milk supplier to the CPI facility.
“This sale represents a very important strategic step for our Dairy Foods business, allowing for more focus on our branded, value-added marketing, while also providing a secure long-term milk supply agreement for our members’ milk production,” said Chris Policinski, Land O’Lakes president and chief executive officer.
Land O’Lakes will continue to operate cheese producing plants in Tulare and Orland CA, Melrose MN, Denmark WI, and Kiel WI, and a cheese processing facility in Spencer WI.
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