Saputo Acquires the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States

MONTRÉAL, QUÉBEC--(Marketwired - Aug. 31, 2017) - Saputo Inc. ("Saputo") (TSX:SAP) announces today that it has entered into an agreement to acquire the extended shelf-life ("ESL") dairy product activities of Southeast Milk, Inc. ("SMI"). The ESL processing activities are conducted at one manufacturing facility located in Plant City, Florida (USA). The business employs approximately 66 people.

For the twelve-month period that ended on June 30, 2017, the ESL activities of SMI generated annual revenues of approximately CDN$59 million (US$47 million).

The acquisition of SMI's ESL activities will add to and complement the activities of Saputo's Dairy Foods Division (USA).

The transaction is subject to customary conditions and is expected to close on or around September 29, 2017.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of applicable securities laws. These statements are based, among other things, on Saputo's assumptions, expectations, estimates, objectives, plans and intentions as of the date hereof regarding projected revenues and expenses, the economic, industry, competitive and regulatory environments in which the Company operates or which could affect its activities, its ability to attract and retain customers and consumers, as well as the availability and cost of milk and other raw materials and energy supplies, its operating costs and the pricing of its finished products on the various markets in which it carries on business.

These forward-looking statements include, among others, statements with respect to the Company's short and medium-term objectives, outlook, business projects and strategies to achieve those objectives, as well as statements with respect to the Company's beliefs, plans, objectives and expectations. The words "may", "should", "will", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective", "continue", "propose" or "target", or the negative of these terms or variations of them, the use of conditional or future tense or words and expressions of similar nature, are intended to identify forward-looking statements.