MONTREAL, QUEBEC--(Marketwired - Nov. 9, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Saputo Inc. (TSX:SAP) (Saputo or the Company) announced today that its shareholder Jolina Capital Inc. (the "Selling
Shareholder"), a holding company controlled by Mr. Emanuele (Lino) Saputo, has entered into an agreement with a syndicate of
underwriters led by TD Securities Inc., RBC Capital Markets and CIBC Capital Markets (the "Underwriters"). Pursuant to such
agreement, the Underwriters have agreed to purchase on a bought deal basis 6,500,000 Saputo common shares held by the
Selling Shareholder at an offering price of $46.25 per share.
The Selling Shareholder owns as of the date hereof 133,559,848 common shares representing in the aggregate 34.0% of the issued
and outstanding common shares of the Company. After giving effect to this offering, the Selling Shareholder will
own 127,059,848 common shares of the Company, representing approximately 32.4% of the outstanding common shares of the
Company. Saputo will not receive any proceeds from this offering. All the expenses of this offering and the Underwriters' fee
will be paid by the Selling Shareholder.
A preliminary short form prospectus relating to the offering will be filed by no later than November 15, 2016 with Canadian
securities regulatory authorities. Closing of the offering is expected to occur on or about November 29, 2016 and is subject to
certain conditions, including the approval of the Canadian securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of
the securities in any State in which such offer, solicitation or sale would be unlawful. The securities referred to in this press
release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements.
About Saputo
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk,
extended shelf-life milk and cream products, cultured products and dairy ingredients. Saputo is one of the top ten dairy
processors in the world, the largest cheese manufacturer and the leading fluid milk and cream processor in Canada, the third
largest dairy processor in Argentina, and the fourth largest in Australia. In the US, Saputo ranks among the top three cheese
producers and is one of the largest producers of extended shelf-life and cultured dairy products. Our products are sold in
several countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel*,
Dairyland, DairyStar, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait's Go, Neilson, Nutrilait, Scotsburn*,
Stella, Sungold, Treasure Cave and Woolwich Dairy. Saputo Inc. is a publicly traded company and its shares are
listed on the Toronto Stock Exchange under the symbol "SAP".
*Trademark used under licence.
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of securities laws. These statements are based, among
other things, on Saputo's assumptions, expectations, estimates, objectives, plans and intentions as of the date hereof regarding
projected revenues and expenses, the economic, industry, competitive and regulatory environments in which the Company operates or
which could affect its activities, its ability to attract and retain customers and consumers, as well as the availability and
cost of milk and other raw materials and energy supplies, its operating costs and the pricing of its finished products on the
various markets in which it carries on business.
These forward-looking statements include, among others, statements with respect to the Company's short and medium term
objectives, outlook, business projects and strategies to achieve those objectives, as well as statements with respect to the
Company's beliefs, plans, objectives and expectations. The words "may", "should", "will", "would", "believe", "plan", "expect",
"intend", "anticipate", "estimate", "foresee", "objective", "continue", "propose" or "target", or the negative of these terms or
variations of them, the use of conditional or future tense or words and expressions of similar nature, are intended to identify
forward-looking statements.
By their nature, forward-looking statements are subject to a number of inherent risks and uncertainties. Actual results could
differ materially from the conclusion, forecast or projection stated in such forward-looking statements. As a result, the Company
cannot guarantee that any forward-looking statements will materialize. Assumptions, expectations and estimates made in the
preparation of forward-looking statements and risks that could cause actual results to differ materially from current
expectations are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to
time, including the "Risks and Uncertainties" section of the Management's Discussion and Analysis included in the Company's 2016
Annual Report.
Forward-looking statements are based on Management's current estimates, expectations and assumptions, which Management
believes are reasonable as of the date hereof, and, accordingly, are subject to changes after such date. You should not place
undue importance on forward-looking statements and should not rely upon this information as of any other date.
Except as required under applicable securities legislation, Saputo does not undertake to update or revise these
forward-looking statements, whether written or verbal, that may be made from time to time by itself or on its behalf, whether as
a result of new information, future events or otherwise.