Canadian Milk Giant Saputo Homes in on Dairy-Free Deal This Year

The dairy industry is joining the dairy-free craze.

Canadian dairy giant Saputo Inc. is targeting an acquisition of a plant-based milk business in North America by the end of the year to capture some of the growth driven by a shift toward less or no dairy for heath and environmental reasons.

Almond, soy and oat beverages are the main products the Montreal-based company will be looking at, Chief Executive Officer Lino Saputo Jr. said in a telephone interview. He is aiming for a deal “within this calendar year.”

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