Private equity firm GTCR announced its portfolio company Fairmount Cheese Holdings Inc, parent company of DCI Cheese Company Inc, has signed a definitive agreement to be purchased by Saputo Inc. Fairmount is a major national supplier of specialty cheese, dips, and spreads to retail and foodservice channels. Headquartered in Deerfield IL with other facilities in Wisconsin, New Jersey, and California, Fairmount sells more than 160 million pounds and 100 types of cheese, including its own portfolio of owned and exclusive brands.
In 2003, GTCR founded Fairmount to acquire and consolidate companies in the high-growth, highly fragmented specialty cheese industry. The initial platform acquisition for Fairmount was DCI in 2005. Between 2006 and 2007, Fairmount completed four other principal acquisitions in the specialty cheese and refrigerated foods space.
The acquisition will complement the activities of Saputo Dairy Products Division (USA) and increase its presence in the specialty cheese category in the United States. The transaction is expected to close in March.
Saputo produces, markets and distributes cheese, fluid milk, yogurt, and dairy ingredients. It is the 12th-largest dairy processor in the world, the largest in Canada, the third-largest in Argentina, and among the top three cheese producers in the United States.
Credit Suisse Securities (USA) LLC and BMO Capital Markets served as Fairmount’s financial advisors, and Kirkland & Ellis LLP provided legal counsel.
For more information, visit www.gtcr.com.
