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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 photographic evidence to demonstrate local competition and aggressive pricing promotions.",
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      "text": "The competition is intense even in its own state of New York, where competitors are promoting their local buttermilk brand at a price point 30% less than Saputo’s brand.",
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      "text": "Saputo owns Friendship Dairies which is produced in Friendship, NY. Friendship produces a range of cottage cheeses, sour creams, farmer cheese and buttermilk. The competition is intense even in its own state of New York, where competitors are promoting their local buttermilk brand at a price point 30% less than Saputo's brand. Cottage cheese price promotions are also intense. Recently, we observed a 2 for $5.00 promotion. Workers recently were on strike at Friendship's plant in upstate New York. Great Lakes Cheese is constructing a new $500 million facility just thirty minutes away from Saputo. This facility could compete for any existing workers not satisfied with Saputo's labor deal.",
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      "text": "“Friendship Dairies workers vote unanimously to strike over 2 key issues with Saputo Dairy” — EveningTribune.com",
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      "text": "Source: Spruce Point research, Nov 2022",
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      "text": "1) \"Friendship Dairies workers vote unanimously to strike over 2 key issues with Saputo Dairy\", EveningTribune.com\n2) \"Great Lakes Cheese breaks ground for $500 million Franklinville Plant\", OleanTimesHerald.com",
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