Nutrinor Inc has acquired a majority interest in Fromagerie Champêtre, a Repentigny, Québec maker of a range of cheese products. No financial terms were disclosed. Saint-Bruno, Québec-based Nutrinor, a cooperative that operates a line of agriculture, agrifood, energy and hardware retailing businesses, now co-owns the company with Capital croissance PME, a private equity fund. The fund is sponsored by Capital régional et coopératif Desjardins and Caisse de dépôt et placement du Québec.
Nutrinor acquires Fromagerie Champêtre
09 Jun, 2017
Saint-Bruno – Nutrinor today announced that it has acquired a majority share in Fromagerie Champêtre. The cheesemaker based in Repentigny on the eastern outskirts of Montreal is now owned by Nutrinor and Capital croissance PME. This transaction dovetails with the cooperative’s three-year investment plan and affirms its commitment to becoming an agrifood leader.
“It’s a key step for Nutrinor,” said Yves Girard, general manager of the coop. “We firmly believe that Fromagerie Champêtre has a strong potential for growth that will help propel us beyond our primary market. We know that in order for us to grow, stepping up sales outside the Saguenay–Lac-Saint-Jean region is critical. Fromagerie Champêtre offers an exceptional line of products that stand out for their quality and authenticity. Such a level of care is squarely in line with our vision of growth—and that’s what clinched it for us.”
In addition to marketing the Organic Nordic line of dairy products, Nutrinor owns Fromagerie Perron and is set to expand its presence in the domestic fine cheeses market. Fromagerie Champêtre produces such renowned cheeses as Presqu’île, Tomme du Fleuve, Raclette Champêtre, and Le Bocké, which is a two-time winner of the prestigious Sélection Caseus cheese competition.
“This acquisition of Fromagerie Champêtre will ensure that this iconic Lanaudière producer remains a Quebec-owned brand,” said Luc Ménard, COO of Desjardins Capital régional et coopératif, which manages the CCPME fund. “The transaction announced today will also allow for the continued growth of a Saguenay–Lac-Saint-Jean coop. It’s the second time since 2015 that we’ve supported a project by Nutrinor. It just goes to show how important we think cooperatives and the agrifood sector are in supporting regional development.”
Nutrinor operates in four lines of business: agriculture, agrifood, energy, and hardware retailing. It is owned by its 965 members and has a workforce of over 650, with total assets of close to $120 million. Sales for the fiscal year ended October 28, 2016 were $342 million. The 2015–2016 annual report is available online at nutrinor.com.
About Capital croissance PME
Capital croissance PME (CCPME) is an investment fund capitalized in equal parts by Desjardins Capital régional et coopératif and La Caisse de dépôt et placement du Québec. Its primary mission is to provide Quebec SMEs with patient capital to support them in their expansion, R&D, business acquisition, and productivity optimization plans. Our specific focus is the economic development of Quebec companies wherever they may be located in the province. We also promote business succession strategies that keep SME ownership in Quebec. For more information: capitalcroissancepme.com.
About Fromagerie Champêtre
Founded in 1996, Fromagerie Champêtre today has a team of over 45 employees and annually processes more than 11 million litres of milk. Over the years it has never stopped growing and expanding its line of products, including cheddar cheese curds and a selection of fine cheeses blending innovation and remarkable flavour.
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Photo courtesy of La Fromagerie Champêtre