MONTREAL, Feb. 5, 2015 /CNW Telbec/ - La Coop fédérée further strengthens its position as leader in Quebec and Canada's retail sector. The agricultural and agri-food cooperative announces that Groupe BMR is now one of its wholly-owned subsidiaries, joining Olymel, Agrico Canada Ltd., Agronomy Company of Canada, and Énergies Sonic as part of its extended family.
La Coop fédérée had held a minority ownership in Groupe BMR since November 2013 and has now exercised the stock option set out in the agreement and purchased the remaining shares. "We're very proud to welcome Groupe BMR to our network," said Denis Richard, president of La Coop fédérée. "BMR is a leader in Quebec and Canada's retail, renovation and construction sectors. Uniting our operations strengthens our leadership in the hardware sector. On behalf of La Coop fédérée's employees, management and members, I want to tell our new colleagues from Groupe BMR that we're looking forward to getting to know them and, with them, to build the future of this major sector – in Quebec, Canada, and the world."
Joining forces: network and renovations strengths
This is a most strategic union given the industry's highly competitive nature. With its head office in Boucherville, Groupe BMR is also active in Ontario, the Maritimes, as well as Saint-Pierre and Miquelon. BMR's annual sales are estimated at over $1.4 billion. Its stores employ 5,000 people. "With this partnership, we become the second-largest player in Quebec, with a total of 350 renovation centres and hardware stores offering the best products and services in the industry," said Yves Gagnon, honorary president of Groupe BMR. "This is great news for our clients, retailers and employees alike." The Unimat and BMR brands will remain in use.
Groupe BMR and La Coop fédérée: together as one
"This union allows two significant Quebec leaders to keep on leveraging local talent to offer our members and consumers the opportunity to procure the products they need close to home, in their community, at competitive prices," said Gaétan Desroches, Chief Executive Officer at La Coop fédérée. "The addition of Groupe BMR illustrates our will to build on the retail sector, particularly in the areas of renovations and building materials, and contribute to the growth of local economy, including in the agricultural sector. I want to thank our financial partners – including Investissement Québec – who allow companies such as ours to strengthen their roots in major economic sectors."
La Coop fédérée began shifting to retail in the hardware and agricultural-machines sectors in 1977. Visit www.unairdefamille.coop to know more about this news. #BMRUnimat
About La Coop fédérée
Founded in 1922, La Coop fédérée is the largest agri-food organization in Quebec. It is owned by over 100,000 members from 97 cooperatives located in several Canadian provinces and is active throughout the agri-food chain. As a wholesaler, La Coop fédérée provides agricultural producers with all the goods and services they require for their businesses. Its operations are divided into three divisions: agri-food (animal and plant production as well as cereal commercialization under Elite and La Coop banners), retail and innovation (energy, hardware and agricultural machines under Sonic, Unimat and BMR banners) and meat processing (Olymel). La Coop fédérée employs nearly 10,000 people and its annual sales reach $5.2 billion. Including its affiliated coop network, La Coop fédérée employs almost 16,000 people, with annual sales of $8.3 billion. www.lacoop.coop twitter.com/LaCoop_federee.
About Groupe BMR
Founded in 1967, BMR is now a group of independent retailers operating 187 renovation centres and hardware stores in Quebec, Ontario, the Maritimes and Saint-Pierre-and-Miquelon. Retail sales by BMR members are estimated at over $1.4 billion annually, and some 5,000 people work in its stores. BMR is the second largest player in the renovation sector in Quebec. www.bmr.co
SOURCE La Coop fédérée
Image with caption: "We are able to recognize on the photo, from left to right, Yves Gagnon, honorary president of Groupe BMR, Denis Richard, president of La Coop fédérée and Gaétan Desroches, Chief Executive Officer at La Coop fédérée, all gathered at the announcement of the arrival of Groupe BMR within La Coop fédérée (CNW Group/La Coop fédérée)". Image available at: http://photos.newswire.ca/images/download/20150205_C6720_PHOTO_EN_11887.jpg
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