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Québec funds back DMB Distribution alimentaire’s new owners

DMB Distribution alimentaire, a Canadian food products distributor, has received an investment from the Fonds de solidarité FTQ‘s regional network and Capital croissance PME. No financial terms were released. The deal supported an ownership transfer that saw DMD officers and a new investor acquire part of the company’s shares. Saint-Augustin-de-Desmaures, Québec-based DMD makes upwards of 9,000 deliveries a week to supermarkets, large grocery stores and regional food stores. Capital croissance PME is sponsored by Capital régional et coopératif Desjardins and Caisse de dépôt et placement du Québec.

PRESS RELEASE

Fonds régionaux de solidarité FTQ and Capital Croissance PME invest in DMB Distribution alimentaire

Fresh food products distributor will transfer ownership to four officers and one new shareholder

SAINT-AUGUSTIN-DE-DESMAURES, QC, June 15, 2016 /CNW Telbec/ – DMB Distribution alimentaire, also known as Distributions Marc Boivin, has been a part of the Québec food market for over 35 years, making upwards of 9,000 deliveries a week to supermarkets, large grocery stores and regional food stores in the province.

Four DMB officers and a new shareholder today announced the acquisition of part of the company’s shares. The Fonds régionaux de solidarité FTQ and Capital croissance PME, an investment fund created by Capital régional et coopératif Desjardins (CRCD) and the Caisse de dépôt et placement du Québec, are supporting this transaction by providing the financing for this business ownership transfer.

Thus, the continuity of this company, established in 1981 in Saint-Augustin-de-Desmaures, will be assured by Sylvain Laroche, DMB’s current president and CEO, Gérald Cayouette, former sales manager at Maple Leaf, Caroline Blanchette, DMB’s financial director, Benoit Laroche, the company’s director of operations and François Lamontagne, director of operations at DMB Mascouche. DMB has 200 employees between its two warehouses in Mascouche and Québec City.

“We are happy to see that DMB’s management team will be remaining on board and adding a new member. Caroline Blanchette, François Lamontagne and Benoit Laroche are ensuring continuity while Gérald Cayouette will enrich the company with his 30 years of experience in the food market. We would like to thank Conrad Boivin for facilitating this transfer, as well as the Fonds régionaux de solidarité FTQ and Capital Croissance PME,” said Mr. Laroche.

“Due to a lack of buyers, 5,700 to 10,000 companies could disappear within the next 10 years, meaning a loss of 80,000 to 140,000 jobs.1 By taking the bull by the horns, companies such as DMB are maximizing their chances of survival,” said Jean Roy, regional director of the Fonds régionaux de solidarité FTQ Québec.

For Michel Leclerc, Vice-President, Subordinated Debt, North and East Québec, at Desjardins Entreprises Capital régional et coopératif, the manager of Capital croissance PME, DMB Distribution alimentaire used the right formula for succession. “DMB Distribution alimentaire planned for the changeover in key positions by hiring, mentoring and integrating the right people into the management team, and in so doing, ensuring the company’s continuity.”

About the Fonds régionaux de solidarité FTQ

The Fonds régionaux de solidarité FTQ have been helping to further regional economic development in Québec for 20 years. An integral part of the Fonds de solidarité FTQ network, the Fonds régionaux have invested $635 million in 1,040 projects since 1996, helping to create, maintain or protect close to 37,300 jobs. www.fondsreg.com

About Capital croissance PME

Capital croissance PME is an investment fund whose primary mission is to provide Québec SMEs with patient capital for their various expansion projects. Capitalized in equal shares by Capital régional et coopératif Desjardins and Caisse de dépôt et placement du Québec, the $230-million fund meets the financing needs of Québec enterprises, primarily in the form of subordinated loans of less than $5 million. www.capitalcroissance.ca

1 http://www.soyezlareleve.ca/decouvrez-le-repreneuriat/

For further information: Press contact: Patrick McQuilken, Fonds de solidarité FTQ, 514 850-4835 or 514 703-5587, pmcquilken@fondsftq.com; Richard Lacasse, Capital Croissance PME, 418 835-8444 or 1 866 835-8444, ext. 556 3163, media@desjardins.com

Photo courtesy of DMB Distribution alimentaire