The Caisse de dépôt et placement du Québec has increased its stake in dairy company Saputo Inc. to 4.51 per cent with a purchase of 13.5 million shares for about $378 milion.
Saputo is Canada’s largest dairy company with emphasis on cheeses. It has holdings across Canada, in the United States, Australia and Argentina.
The Quebec pension plan first bought into Saputo when Franceso Saputo offered 40 million shares as part of general estate and succession planning.
A wholly-owned subsidiary of Jolina Capital Inc., Lino Saputo and other members of the Saputo family acquired the other 26.5 million shares.
Francesco Saputo still holds 2.5 million Saputo shares.
