Firm invests $378M in Saputo
CDPQ, a global investment group, announced an additional investment of approximately $378 million in Saputo Inc.
CDPQ's stake in the company now totals approximatively 4.5% of the company, following the acquisition of 13.5 million shares at a price of $27.96 Canadian per share.
CDPQ's first stake in Saputo dates back to 1997.
Founded in Montréal in 1954, Saputo is now one of the top ten dairy processors in the world. The Québec company produces and distributes a wide range of dairy products in Canada, Australia and Argentina, among other countries.
"CDPQ is proud to continue supporting Saputo, a leading Québec company, by increasing its stake in this world leader in dairy processing," said Kim Thomassin, executive vice president and Head of Québec at CDPQ. "We've been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Québec."
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