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  "documentTitle": "Saputo Inc. (TSX:SAP)",
  "authorId": "54_Spruce_Point_Capital",
  "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 visual evidence (photos of product labels and price tags) to support the thesis of overpricing.",
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      "kind": "callout",
      "text": "Spruce Point questions the value of Saputo's specialty cheese distribution business, notably the Port Salut variety. We find the identically labeled product at hyper low-cost retailer Aldi for -26% less per pound.",
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      "text": "Spruce Point questions the value of Saputo’s specialty cheese distribution business, notably the Port Salut variety. We find the identically labeled product at hyper low-cost retailer Aldi for -26% less per pound.",
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      "text": "Port Salut: Distributed By Bel Brands $13.56/lb",
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      "text": "Port Salut: Distributed By Saputo $18.49/lb",
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      "text": "price per pound: -26%",
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      "text": "Source: Spruce Point Research at Stop&Shop",
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      "text": "Source: Spruce Point Research at Aldi",
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      "text": "Saputo's U.S. Specialty Cheese: Not So Special",
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