Saputo gets $1.2 billion loan for Morningstar Foods acquisition

By Sara Rosenberg

New York, Jan. 3 - Saputo Inc. closed on a new $1.2 billion bank loan that was used to help fund the purchase of Morningstar Foods LLC from Dean Foods Co., according to a news release.

National Bank of Canada and Bank of Montreal acted as co-lead arrangers and joint bookrunners on the loan.

Other funds for the $1.45 billion transaction came from $250 million in available cash.

Saputo is a Montreal-based producer, marketer and distributor of products, including cheese, fluid milk, yogurt, dairy ingredients and snack-cakes. Morningstar is a producer of a variety of dairy and non-dairy extended shelf-life products.

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