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CRCD invests $10 mln in Courchesne Larose’s buy of Dandrea assets

Capital régional et coopératif Desjardins (CRCD) has invested over $10 million in Courchesne Larose Ltd, operator of a distribution network for fruit and vegetable suppliers. CRCD provided the funding to support Courchesne Larose’s purchase of 50 percent of the assets of Dandrea Produce Inc, a produce grower and importer based in Vineland, New Jersey. The deal was closed in August. A family business with a history that goes back to 1918, Courchesne Larose has its headquarters in Montréal. CRCD is a retail fund managed by Canadian private equity firm Desjardins Capital de risque.

INVESTMENT NOTICE (reproduced courtesy of Capital régional et coopératif Desjardins)

Expansion by acquisition, an investment of more than $10 million

Nov 02 2015

THE INVESTMENT:

With the support of CRCD, Montréal’s Courchesne, Larose Ltée acquires part of the assets of Dandrea Produce, a Vineland, NJ company.

THE COMPANY:

A leader in the Canadian fruit and vegetable industry for over 90 years, family business Courchesne, Larose Ltée is the flagship for Groupe Courchesne Larose. Its mission is to offer its suppliers the broadest range and highest quality fruit and vegetable distribution network. Its suppliers are located in across the globe and its clients, though mainly concentrated in Eastern Canada, are present across the country, and the U.S. eastern seaboard. Courchesne, Larose Ltée employs 300 people. www.courchesnelarose.com

CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS:

Capital régional et coopératif Desjardins (CRCD) has a real affinity for SMEs. Since its inception in 2001, CRCD, a public corporation, has actively participated in Québec’s economic development. Together with its manager, Desjardins Business Capital régional et coopératif, CRCD has deployed innovative and unparalleled solutions in the entrepreneurial market in the form of various partnerships that now form its ecosystem. With over 100,000 shareholders and net assets of $1,593 million, CRCD is a lever of choice for cooperatives and regional SMEs seeking to achieve their full potential. As at June 30, 2015, CRCD and its ecosystem supported the growth of 388 companies, cooperatives and funds in various industries spanning all Québec regions, while helping to create and retain 62,000 jobs.

INVESTMENT MANAGEMENT TEAM:

Sylvain Dupuis
Senior Investment Manager
514 281-8612
sylvain.dupuis@dcrdesjardins.com

Daniel Archambault
Investment Manager
450 445-6116, ext. 202
daniel.archambault@dcrdesjardins.com

Denis Desjardins
Vice-President, Subordinated Debt
514 281-7138
denis.desjardins@dcrdesjardins.com

Luc Ménard
Managing Vice-President, Investments
514 281-7134
luc.menard@dcrdesjardins.com

Photo courtesy of Shutterstock