MONTREAL, May 19, 2015 /CNW Telbec/ - Quebecor announced today that it has reached an agreement to sell Archambault Group's retail operations to Renaud-Bray. The transaction includes the 14 Archambault stores, the archambault.ca website, and the English-language Paragraphe Bookstore. The transaction is subject to Competition Bureau approval.
"The retail sector has had to face tall challenges because of technological change and the advent of digital platforms, upheavals which have reshaped consumer habits," commented Pierre Dion, President and CEO of Quebecor. "Today, the competition isn't the shop across the street; it comes from major international players. Therefore, we are pleased that this transaction will keep Archambault's retail operations in Québec hands. Renaud-Bray has built its reputation by developing the market for French-language cultural goods and offering Quebecers quality products," Mr. Dion added.
"We thank all the employees who have helped make Archambault one of the most respected companies in Québec," said Pierre Dion.
Pending the Competition Bureau's decision, Quebecor will continue managing all of Archambault Group's properties.
"Culture is at the core of our mission and according to our last annual cultural report, our investment in culture is worth a total of $498 million. It is important to note that Quebecor will remain an important player in the book industry through its 18 general literature publishing houses, including Les Éditions de l'Homme, Libre Expression, L'Hexagone, VLB Éditeur, Les Éditions du Trécarré and Les Éditions de la Bagnole, as well as its distribution arm Messageries A.D.P., and the academic publisher CEC Publishing. In music and concerts, Quebecor intends to remain a Québec leader through the operations of Musicor and Select," Mr. Dion stated.
It should also be mentioned that Quebecor is deeply committed to the community, distributing donations and sponsorships worth nearly $30 million every year, more than half of which goes to numerous organizations, events and venues devoted to the arts and culture. The organizations supported by Quebecor include the Théâtre du Rideau Vert, Espace Félix-Leclerc, the Trois-Rivières International Poetry Festival, Les Correspondances d'Eastman, the Festival de musique émergente in Abitibi-Témiscamingue, Festi Jazz international in Rimouski, Jonquière en Musique, the Société professionnelle des auteurs et des compositeurs du Québec (SPACQ), the Musée national des beaux-arts du Québec and the Festival de nouveau cinéma. Quebecor also launched and fully funds the major philanthropic project Éléphant: The Memory of Québec Cinema, which is dedicated to preserving Québec's cinematic heritage.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec. It holds a 75.36% interest in Quebecor Media, which employs close to 12,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
For further information:
Martin Tremblay, Vice President, Public Affairs, Quebecor Media, 514-380-1985, [email protected]