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  "docSlug": "78ffe7ab28d4",
  "documentTitle": "Saputo Inc. (TSX:SAP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-11-29 00:00:00",
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  "pageNumber": 28,
  "pageCount": 147,
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  "notes": "The slide uses a red flag icon to signal a warning about reduced transparency.",
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      "kind": "callout",
      "text": "Spruce Point has analyzed many struggling companies over the years, and a consistent theme we find is that challenges are often accompanied by reduced transparency and disclosures. We observe that as recently as FY 2022, Saputo has stopped providing at least three key disclosures.",
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      "text": "Source: Saputo Filings and Spruce Point Research",
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      "text": "Comparison of historical vs current disclosures for Canada Market Share, Revenue of Acquisitions, Composition of Revenues, World Production, and Excess Manufacturing Capacity.",
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      "kind": "title",
      "text": "Saputo Becoming Less Transparent",
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