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  "documentTitle": "Saputo Inc. (TSX:SAP)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-11-29 00:00:00",
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  "notes": "Uses a table to show discontinued product categories and visual evidence of website changes.",
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      "text": "Saputo completed the acquisition of Murray Goulburn based in Australia for A$1.3 billion (C$1.29 billion) in April 2018. The press release said, \"MG produces a full range of high-quality dairy foods, including drinking milk, milk powder, cheese, butter and dairy beverages, as well as a range of ingredient and nutritional products, such as infant formula.\" (1) Furthermore, Saputo described Devondale as a \"flagship\" brand. Fast forward to today, we see it has discontinued certain drinks and infant formula.",
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      "text": "Saputo completed the acquisition of Murray Goulburn based in Australia for A$1.3 billion (C$1.29 billion) in April 2018. The press release said, \"MG produces a full range of high-quality dairy foods...\" Furthermore, Saputo described Devondale as a \"flagship\" brand.",
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      "text": "\"MG produces a full range of high-quality dairy foods, including drinking milk, milk powder, cheese, butter and dairy beverages, as well as a range of ingredient and nutritional products, such as infant formula.\" — Saputo Press Release",
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      "text": "1) Saputo completes acquisition of Murray Goulburn, press release. Source: Devondale Website and (2) Way back Machine (2017) does not provide",
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      "text": "Example of Product Shrinkage: Devondale",
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