MONTREAL, June 28, 2012 /CNW Telbec/ - Capital régional et coopératif Desjardins (CRCD) announced today that it will invest $26 million in share capital and debentures in Groupe Filgo Inc., a major distributor of Shell oil products. Following the investment, CRCD will own a part of the company's share capital, thereby confirming its support of the company's growth plan and family succession plan.
Michel Lehoux, CEO of Groupe Filgo Inc., expressed his appreciation for Desjardins's expertise and values. "It was immediately clear that Desjardins was a partner of choice, with its solid roots across Quebec. We also felt that Desjardins was truly dedicated and committed to our company and its growth plans. Our partnership, which has evolved in a spirit of continuity, growth and commitment to excellence, is very promising for the future of our company, our employees, and our many clients. We are proud to be able to count on the support of such a reputable cooperative institution."
Marie-Claude Boisvert, Chief Operating Officer of Desjardins Venture Capital, which is the fund manager for CRCD, is very optimistic about the new partnership. "We are very pleased to be partnering with a company that is establishing itself as a leader in the oil industry. Given the scope of Groupe Filgo's operations over such a large part of Quebec, not to mention the quality of its management team, it's clear that the company's growth plan is built on a solid foundation."
Groupe Filgo Inc. operates under various corporate names, including Philippe Gosselin et Associés Limitée, which was founded in Beauce in 1956. The company, which is headquartered in Sainte-Marie de Beauce, is active in Quebec's major regions: Bas St-Laurent, Capitale nationale, Centre-du-Québec, Chaudière-Appalaches, Côte-Nord, Estrie, Gaspésie, Mauricie, Montréal, Montérégie and Saguenay-Lac St-Jean. It operates in three strategic niche markets: the distribution of residential, institutional, agricultural and commercial oil products; the distribution of lubricants for Shell, Penzoil and Quaker State; and the direct and indirect management of service stations and convenience stores. The company operates 26 service stations, 25 of which are under the Shell banner with SuperSoir convenience stores. It also works closely with other stations affiliated with Shell and its MIRACO banner, for a total of 120 service stations.
About Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. With over 106,000 shareholders and net assets of $1.22 billion, CRCD contributes to Quebec's economic development and the growth of cooperatives and the resource regions. CRCD supports over 300 companies, cooperatives and funds in various industries across all regions of Quebec. For more information, visit www.capitalregional.com.
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