Caisse de dépôt et placement du Québec and Agropur Cooperative, a Longueuil, Québec-based dairy cooperative, said they will set up a joint dairy-focused investment platform. The platform will commit $40 million to companies specializing in dairy-related products and technologies. Robert Coallier, CEO of Agropur, said the strategy will help anticipate the “needs of our customers and consumers and create the dairy products of tomorrow.” In 2016, Agropur raised financing from the Caisse, Fonds de solidarité FTQ, Capital régional et coopératif Desjardins, Fondaction CSN and other investors.
La Caisse and Agropur create a joint investment platform to help foster innovation in the dairy industry
MONTRÉAL, Feb. 14, 2018 /CNW Telbec/ – In the context of Agropur’s annual general meeting, Caisse de dépôt et placement du Québec (la Caisse) and Agropur Cooperative (Agropur) announced that they would be setting up a new joint investment platform for businesses in the dairy industry.
The $40-million platform will be funded by the two partners on a 50/50 basis and invest in innovative businesses specializing in dairy-related products and technologies.
The focus will be on growing companies with high potential for solid financial performance, which are led by a solid management team and who have demonstrated that innovation is a core element of their business-model.
This opportunity will allow la Caisse to make the most of Agropur’s extensive operational knowledge of the agri-food sector, and Agropur to tap into la Caisse’s financial expertise in supporting small and medium-sized enterprises.
“Agropur is committed to leading the way in innovation. Through our forward-thinking efforts, we aim to anticipate the needs of our customers and consumers and create the dairy products of tomorrow. With this new platform, we are targeting innovation-oriented businesses that will help bring new vigour to the dairy industry. We are happy to partner with la Caisse on this initiative, which is the only one of its kind in North America,” stated Agropur CEO Robert Coallier.
“La Caisse is looking to play a role in transforming businesses operating in traditional industries by supporting those at the forefront of innovation. This platform will enable companies serving the agri-food sector — a key driver of the Québec economy — to obtain the funding necessary to stay at the cutting edge,” said Christian Dubé, la Caisse’s Executive Vice-President, Québec. “We are pleased to invest alongside Agropur, a major industry player that has successfully demonstrated its expertise in the field over the years.”
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
ABOUT AGROPUR COOPERATIVE
Agropur Cooperative, founded in 1938, is a North American dairy industry leader with sales of $6.4 billion in 2017. The Cooperative is the pride of the 3,290 members and 8,300 employees who pursue its vision every day: “Better dairy. Better world.” Agropur processes more than 6.1 billion litres of milk per year at its 39 plants across North America and boasts an impressive roster of brands and products including Natrel, OKA, iögo, BiPro, Agropur Grand Cheddar, Olympic, Farmers, Island Farms and Québon. Agropur’s head office is certified LEED Silver. agropur.com
For further information: Jean-Benoît Houde, Senior Advisor, Media Relations, Caisse de dépôt et placement du Québec, +1 514 847 5493, firstname.lastname@example.org; Véronique Boileau, Vice President, Communications, Agropur Cooperative, +1 450 878-1844, email@example.com
Photo courtesy of Caisse de dépôt et placement du Québec