CDPQ Increases Stake in Global Dairy Giant Saputo with $378 Million Investment
CDPQ, the global investment group, announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), one of the world's leading dairy processors. This move raises CDPQ’s total stake in the company to approximately 4.5%, following the acquisition of 13.5 million shares at $27.96 per share. CDPQ's initial investment in Saputo dates back to 1997.
Saputo, founded in Montréal in 1954, has grown into a top ten global dairy processor, producing and distributing a wide range of dairy products across Canada, Australia, Argentina, and beyond. The company also ranks among the top three cheese manufacturers in the U.S. and leads as the largest branded cheese and dairy spread producer in the U.K.
"CDPQ is proud to further support Saputo, a Québec-based global leader in dairy processing," said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. "This investment aligns with our strategy of fostering North American and international champions while benefiting Québec."
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