08:31 AM EDT, 09/30/2024 (MT Newswires) -- Saputo (SAP.TO) on Monday said that Emanuele Saputo has increased his stake in the company from 32.5% to 38.7%.

The dairy company announced that Jolina Capital, controlled by Emanuele Saputo, Emanuele Saputo, members of the Saputo family and an affiliate of fund manager Caisse de depot et placement du Quebec (CDPQ) together purchased 40 million common shares in Saputo. The shares were acquired from a subsidiary of Placements Italcan, an entity controlled by Francesco Saputo.

Francesco Saputo's stake has fallen, post-transaction, to $0.6%, from 10%, while CDPQ now controls 4.51% of the company.