MONTREAL, Dec. 3, 2013 /CNW Telbec/ - L'Équipe Spectra's founders are pleased to announce that they have signed an agreement with a prestigious and major investor, Groupe CH (le Canadien de Montréal), owned and operated by the Molson family, which has acquired the company's shares. This strategic decision, made after two years of discussions, stems from L'Équipe Spectra's commitment to ensure the longevity and continued success of its business by teaming up with a leader with a proven track record that can help the company grow.
"I must admit that we've gotten many offers over the years," said Alain Simard, who will remain L'Équipe Spectra's CEO. "However, Geoff Molson's insightful approach and vision deserved our attention and consideration. The prospect of Spectra's growth continuing with a Montreal-based group that's both solid and complementary to our business was a decisive factor for us."
This is a major investment for Groupe CH in Québec culture that preserves the unique business and operating model of L'Équipe Spectra and its subsidiaries: Spectra Musique, Le Métropolis de Montréal, Spectra Marketing and including L'Équipe Spectra's important stake in X3 Productions, an international exhibition company. This private transaction does not involve any changes to the people in place nor Spectra's activities, including the festivals it created and will continue managing. Under the agreement, the festivals will remain independent not-for-profit organizations with the same directors and the same mission of democratizing culture, including their renowned free outdoor venue element.
"We are pleased to welcome such a deep-rooted Québec company to our family that is not only the pride of Montréal but also enhances its reputation and contributes to our economy," Geoff Molson said. "With the acquisition of L'Équipe Spectra, our goal is simple: provide the company with greater resources to spur, even accelerate its business growth in Québec, while preserving its distinct corporate culture."
L'Équipe Spectra and evenko will remain separate legal entities with separate management teams and operations. This new partnership will forge a strategic, productive and profitable alliance between these two entities, now sister companies, both owned by le Groupe CH. At a time when multinational and foreign conglomerates are acquiring local cultural companies worldwide, it is amazing news for Montréal and Québec that L'Équipe Spectra can now ensure its business remains successful well into the future with a home-grown company.
"The Molsons have been pillars of our city for over 200 years, so today we are proud to join this great family. This is very good news for our entire team, our business partners and every Montrealer," said Alain Simard, pointing out that "L'Équipe Spectra will continue, even bolster every aspect of its business for many years to come, profiting from the synergies and complementary strengths of the Molson Family and Groupe CH."
For 37 years, L'Équipe Spectra has skillfully developed and raised the international profile of the Montréal cultural scene, particularly through the creation and management of many major city festivals, stage productions, audio-visual productions, museum exhibitions, concert halls, cultural complexes, a record label and a talent agency. Since its creation in 1977, L'Équipe Spectra, through the numerous not-for-profit festivals that it organizes, has generated in the Montreal economy more than a billion dollars in new money.
Image with caption: "Équipe Spectra Inc. (CNW Group/Équipe Spectra Inc.)". Image available at: http://photos.newswire.ca/images/download/20131203_C7397_PHOTO_EN_34307.jpg
SOURCE: Équipe Spectra Inc.
For further information:
L'Équipe Spectra - 514 525-7732