MONTRÉAL, Sept. 30,
2024 /CNW/ - CDPQ, a global investment group, today
announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), a world
leader in the processing, production, marketing and distribution of
dairy products.
CDPQ's stake in the company now totals approximatively 4.5%,
following the acquisition of 13.5 million shares at a price of
$27.96 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. Saputo is
also one of the three largest cheese manufacturers in the United States, and the largest
manufacturer of branded cheese and dairy spreads in the
United Kingdom.
"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."
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable
returns over the long term. As a global investment group managing
funds for public pension and insurance plans, CDPQ works alongside
its partners to build enterprises that drive performance and
progress. We are active in the major financial markets, private
equity, infrastructure, real estate and private debt. As of
June 30, 2024, CDPQ's net assets
totalled CAD 452 billion. For more information about
CDPQ, visit cdpq.com, consult our LinkedIn or
Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et
placement du Québec and licensed for use by its
subsidiaries.
For more information
MEDIA RELATIONS TEAM
+ 1 514 847-5493
medias@cdpq.com
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SOURCE CDPQ
