Saputo Inc. announced the permanent closure of its Lancaster, Wisconsin, facility. The Company intends to transition production from its Lancaster facility to Reedsburg, along with that of its facility in Belmont, Wisconsin, the closure of which was previously announced. The Lancaster and Belmont facilities are expected to close in the fourth quarter of fiscal 2024.

Costs related to the Lancaster facility closure will be approximately CAD 6 million after taxes, which include a non-cash fixed assets write-down of approximately CAD 4 million after taxes. These costs will start to be recorded in the third quarter of fiscal 2024. Approximately 100 employees will be impacted by the Lancaster facility closure.

Impacted employees will be offered the opportunity to relocate to other Saputo facilities and, if no positions are available, they will be provided with severance and outplacement support.