Chocmod Canada Continues Its Long-Term Growth in Québec
Apr 18, 2017, 07:00 ET
Fonds de solidarité FTQ and National Bank Partner with North America's Only French Cocoa Truffle Maker
- Company founders welcome their first outside shareholder, the Fonds de solidarité FTQ
- New loan granted by National Bank
- 40 jobs created since the company's launch in 2011
ST-JEAN-SUR-RICHELIEU, QC, April 18, 2017 /CNW Telbec/ - Founded in 1948, Chocmod is a French company specializing in the confection of French cocoa truffles. After its acquisition by Ghislain Lesaffre and Antoine Fortin in 2008, the company set its sights on the Canadian, U.S. and Mexican markets. The new owners chose St-Jean-sur-Richelieu as the location for their North American plant, which opened its doors in April 2011.
To further their company's growth, Messrs. Lesaffre and Fortin are bringing in an outside shareholder for the first time, the Fonds de solidarité FTQ, which will acquire a minority stake, and are obtaining a new loan from National Bank, Chocmod's partner since 2011.
Chocmod's cutting-edge plant is the only French cocoa truffle confectionary in North America. The company namely makes Truffettes de France products.
The company, which has 40 employees at its Montérégie facilities, is now successfully exporting its Québec-made products all across the U.S. Previously, the products were imported from Europe.
"Québec was a natural choice for Chocmod's North American development. Being close to the U.S. border gives us access to a very important market, and the fact that France and Québec share a common language facilitates communication between our two plants. Now, with the new investments of the Fonds de solidarité FTQ and National Bank, we have the means to continue growing here in Québec."
"With its proximity to large markets, Québec is a strategic choice for agrifood companies looking to break into North America. Thanks to its artisanal know-how and cutting-edge industrial processes, Chocmod Canada continues to make a name for itself with the large chains and consumers."
Senior Vice-President, Industries, Entertainment and Consumer Goods
Fonds de solidarité FTQ
"National Bank has proudly supported Chocmod in building its business in Québec from the early stages and throughout its various development phases. With its growth-oriented business model and passionate team, Chocmod has everything it needs to reach great heights."
Vice-President, Agriculture and Agri-food
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com
About National Bank of Canada
With $234 billion in assets as at January 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE Fonds de solidarité FTQ
For further information: Contact information for reporters and other representatives of the media: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile: 514 703-5587, Email: [email protected]; Marie-Pierre Jodoin, Senior Manager, Public Affairs, National Bank, Phone: 514 394-4209, Email: [email protected]
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