The Caisse de dépôt et placement du Québec (CDPQ) has increased its stake in Saputo Inc., a leading dairy company based in Montreal, by acquiring 13.5 million shares for approximately $378 million. This investment reflects confidence in Saputo’s growth potential as part of a larger sale involving family estate planning.
The Caisse de dépôt et placement du Québec (CDPQ), a prominent institutional investor and one of Canada’s largest pension fund managers, has significantly increased its stake in Saputo Inc., a leading dairy company headquartered in Montreal. In a recent transaction, CDPQ acquired 13.5 million shares of Saputo at a price of $27.96 per share, totaling approximately $378 million.
Following this acquisition, CDPQ now owns 19,152,378 common shares of Saputo, representing a 4.51% stake in the company. The shares were part of a larger sale involving 40 million shares of Saputo, which were sold by Francesco Saputo as part of a strategic plan for estate and succession management.
The transaction involved not only CDPQ but also Jolina Capital Inc., a wholly-owned subsidiary of Saputo, along with Lino Saputo and other family members, who collectively acquired the remaining 26.5 million shares. Despite the sale, Francesco Saputo retains ownership of 2.5 million shares in the company.
Saputo Inc. has established itself as a significant player in the global dairy industry, producing a wide range of dairy products, including cheese, fluid milk, and dairy ingredients. The company operates in Canada, the United States, Australia, and several international markets, employing thousands of people and contributing significantly to the dairy sector.
The increased investment from CDPQ reflects confidence in Saputo’s growth potential and the overall resilience of the dairy industry. As consumer demand for dairy products remains strong, this move may position both CDPQ and Saputo for future success in an evolving market.
