Saputo Completes Secondary Offering of its Common Shares

Saputo Inc. completed a secondary offering pursuant to which a principal shareholder, Jolina Capital Inc., sold 3,100,000 common shares of Saputo, held directly or indirectly, at an offering price of $41.70 per share for gross proceeds of $129,270,000. Saputo has not derived any proceeds from this offering. Jolina Capital now owns, directly and indirectly, 66,779,924 common shares of Saputo, representing approximately 33.9 per cent of the outstanding common shares of Saputo.

The common shares of Saputo were offered to the public by a syndicate of underwriters led jointly by National Bank Financial Inc. and BMO Capital Markets and including Scotia Capital Inc., Desjardins Securities Inc., RBC Capital Markets, CIBC World Markets Inc., Merrill Lynch Canada Inc. and TD Securities Inc.

Saputo and Jolina Capital were represented by Stikeman Elliott LLP with a team led by Steeve Robitaille and Pierre-Yves Leduc (securities) and including Vanessa Coiteux, Marie-Ève Ferland (securities) and Franco Gadoury (tax). Saputo was also assisted by Jones Day with respect to certain United States matters.

The underwriters were represented by McCarthy Tétrault LLP with a team led by Patrick Boucher (securities) and including Michèle Lefaivre (securities) and Christian Meighen (tax). Paul, Weiss, Rifkind, Wharton & Garrison LLP also represented the underwriters with respect to certain United States matters. The Paul, Weiss team included corporate lawyers Adam Givertz and Philippe Savard.