Blainville, Québec-based Les Brasseurs du Nord Inc., a micro-brewery that produces Boréale beer, has been acquired by Canadian private equity firm Fonds de solidarité des travailleurs du Québec FTQ. The financial details of the majority transaction, which is intended to address succession issues, were not disclosed. PeHUB Canada has learned that Fonds FTQ introduced the company’s new top executive, Jacques Sirois, as well as the company’s new board chair, Daniel Tremblay.
Les Brasseurs du Nord, maker of Boréale beer, is partnering with the Fonds de solidarité FTQ to ensure the 25-year-old micro-brewery’s future. The announcement was made to the employees by company founders Laura Urtnowski, Bernard Morin and Jean Morin, along with the Fonds’ representatives.
“Bernard, Jean and I are proud of what we’ve built and what our employees have accomplished over the last 25 years. We therefore wanted to find a partner that would not only ensure the company’s future but its growth as well,” said Laura Urtnowski. “With the Fonds de solidarité FTQ, we found that partner. The Fonds is an ally that shares our values and that will help us protect jobs, the environment and Boréale’s heart and soul, all the while keeping the company in Quebec hands.”
“Business succession will be one of Québec’s big economic challenges going forward,” continued Normand Chouinard, the Fonds’ head of investments. “The Fonds has been tackling this issue since 1997 and today we’re happy to help Les Brasseurs du Nord remain in local hands while it prepares to hand over the reins. By partnering with the Fonds, Laura, Bernard and Jean show that they understand the importance of properly preparing for this transition in order to ensure the future of this successful Québec company.”
Mr. Chouinard, was quick to reassure Boréale’s loyal customers: “The Fonds de solidarité FTQ has no intention of tampering with a formula that has made Boréale a household name in Québec and its white bear recognized in all corners of the province.”
As part of the deal, the Fonds de solidarité FTQ becomes the majority shareholder of Les Brasseurs du Nord, Jacques Sirois takes over the helm, and Daniel Tremblay chairs the Board of Directors set up to oversee the company’s growth and change of ownership.
The company’s owners will remain on board: Laura Urtnowski as vice-president of public affairs and communications, Bernard Morin as advisor to the president, and Jean Morin as vice-president of market development, on-site consumption. Laura Urtnowski and Jean Morin will also sit on the Board of Directors.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving the Québec economy for 30 years. With net assets of $8.8 billion as at November 30, 2012, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,000 companies. With over 600,000 owner-shareholders, the organization has helped create, maintain or protect almost 170,000 jobs. For more information, visit www.fondsftq.com.
About Brasseurs du Nord
Founded 25 years ago, Brasseurs du Nord is a 100% Québec-owned company in Blainville known for its different types of ale beer: Boréale Rousse, Boréale Blonde, Boréale Noire, Boréale Cuivrée, Boréale Dorée, Boréale Blanche and Boréale IPA.
In 2012, Les Brasseurs du Nord launched a new brand of specialty beer, Cuvée Boréale, made with 100% local ingredients. Cuvée Boréale currently comes in two flavours: apple-cranberry and wild blueberries.
Founded by Laura Urtnowski, Bernard Morin and Jean Morin in 1987, the company’s mission is to offer Québec beer drinkers all-natural, good-tasting and superior quality beer. Les Brasseurs du Nord is an environmentally-conscious micro-brewery that has earned several awards for its ecological approach. To learn more about Les Brasseurs du Nord, visit our new Web site, launched on the occasion of our 25th anniversary. www.boreale.com.
SOURCE: Fonds de solidarité FTQ
For further information:
for journalists only:
Vice-President, Public Relations and Communications
Telephone: 450 979-8400
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone: 514 850-4835
Mobile: 514 703-5587
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