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  "documentTitle": "Saputo Inc. (TSX:SAP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-11-29 00:00:00",
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  "pageNumber": 105,
  "pageCount": 147,
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  "density": "balanced",
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  "notes": "Uses red 'X' marks to visually indicate discontinued products.",
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      "text": "We find that four of Tasmanian's products have been discontinued.",
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      "text": "Eight Cheese Pre-Acquisition",
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      "text": "Four Cheeses Today",
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      "kind": "paragraph",
      "text": "As part of Saputo’s 2019 acquisition of Lion-Dairy & Drinks specialty cheese business, Saputo paid $A280 million (C$265 million) for a collection of cheese brands including the Tasmanian Heritage.(1) We find that four of Tasmanian’s products have been discontinued.",
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      "text": "Source: Tasmanian Heritage Website",
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      "kind": "source-note",
      "text": "Source: Tasmanian Heritage (Way back Machine) – March 2019",
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      "text": "Example of Product Shrinkage: Tasmanian Heritage",
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