MONTREAL, Dec. 20, 2013 /CNW Telbec/ - La Caisse de dépôt et placement
du Québec and the Business Development Bank of Canada announced a joint
investment of $17.5 million in Sunchef Foods Inc., a major player in
Québec's chicken processing industry. La Caisse is investing a total of
$10 million, while BDC is investing $7.5 million.
This financing will enable Sunchef to complete phase three of its Anjou
plant expansion and diversify its products. Once the expansion is
complete, Sunchef intends to launch new product lines intended for the
retail and food services markets.
"As a long-term investor, it is critical that we support successful
Québec companies at key points in their growth," said Normand Provost,
Executive Vice-President, Private Equity, at La Caisse. "Since we made
our first investment back in 2006, the company has grown at a fast
pace, creating attractive returns for our clients." La Caisse has
contributed financially to each phase of the Sunchef plant expansion.
"BDC is pleased to be a part of Sunchef Foods' expansion plans, which
will pave the way for new, innovative products to be developed and help
create jobs," said Christian Thauvette, Manager, Major Accounts, Food
and Beverage Industry at BDC. "This financial package is the result of
an outstanding collaborative effort by the Sunchef, BDC and Caisse de
dépôt et placement du Québec teams."
"We are very pleased to continue our long-standing collaboration with La
Caisse de dépôt et placement du Québec, and look forward to the
Business Development Bank of Canada becoming a new financial partner,"
said Terry Eliopoulos Jr., Sunchef's President and Chief Executive
Officer. "Their interest in supporting the growth of Québec SMEs is
seen in both institutions' commitment to our company."
ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at June 30, 2013, it held $185.9 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity,
infrastructure and real estate globally. For more information: www.lacaisse.com.
ABOUT THE BUSINESS DEVELOPMENT BANK OF CANADA
Canada's business development bank, BDC, puts entrepreneurs first. With
almost 2,000 employees and more than 100 business centres across the
country, BDC offers financing, subordinate financing, venture capital
and consulting services to more than 28,000 small and medium-sized
companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
SOURCE: Caisse de dépôt et placement du Québec
For further information:
Senior Adviser, Media Relations
Senior Adviser, Public Relations