PDFDairiConcepts Acquires U.S. Cheese Business

Springfield, MO. – Today DairiConcepts and Swiss Valley Farms announce DairiConcepts’ acquisition of Swiss Valley Farms’ Hard Italian Cheese business. With this transaction, which closed on May 28, 2010, DairiConcepts will add the Hard Italian Cheese business, operated by Rochester Cheese (a wholly owned affiliate of Swiss Valley Farms) to its existing operations, effective June 1, 2010. With this acquisition, DairiConcepts will become a category leader in the marketplace.

Included in the acquisition of the Hard Italian Cheese business, DairiConcepts also will acquire the Dalbo, Minn. plant, formerly operated by Rochester Cheese. As part of this agreement, DairiConcepts will exit the Club Cheese business, which is a category Rochester Cheese is expected to expand.

Rochester Cheese has been a respected and key player in the Hard Italian Cheese category, providing quality products, primarily freshly grated and dry grated hard Italian cheeses. With the sale of its Hard Italian Cheese business, Rochester Cheese will no longer participate in that category.

“The acquisition of Rochester Cheese’s sales and marketing platform fits nicely with our current Hard Italian Cheese strategy, providing resources we will need to support the future of this growing category of our business,” said Neil Stockman, Vice President of Hard Italian Cheese for DairiConcepts.

The acquisition and addition of the Dalbo team also will allow DairiConcepts to extend its operating capacity in the category. “We are excited to have the Dalbo team join DairiConcepts. We have been impressed with the quality of their work and look forward to growing our future together,” said Scott Anderson, Operations Manager of Hard Italian Cheese for DairiConcepts.

“This acquisition is a great fit for our overall company objective of strategic growth,” added Jeff Miyake, president of DairiConcepts. “Our business will continue to expand, both organically and through the acquisition of companies that fit our business model, both domestically and internationally.”

About DairiConcepts

DairiConcepts develops and manufactures application-specific ingredients for global food brands, serving the industry with innovative, cost-effective solutions, as well as toll or turnkey contract manufacturing services. Its classic and on-trend product lines include cheese and dairy powders, dairy concentrates, seasonings, award-winning hard Italian cheeses, flavor enhancers and functional dairy replacers.

Founded in 2000, DairiConcepts is a strategic partnership of national and world-leading dairy cooperatives, Dairy Farmers of America, Inc. and Fonterra Co-operative Group, Ltd. DairiConcepts’ ingredients are marketed internationally to icon-brand food companies, foodservice providers, restaurant chains, culinary chefs, and industrial ingredient and private label food manufacturers.

For media inquiries, please contact:

Delia Croessmann dcroessmann@dairiconcepts.com
Phone: 417.829.1708