The Fonds de solidarité FTQ has invested $3 million in Zinda Products Inc, an agri-food business that specializes in the production of regular and flavoured couscous. Founded in 1999 by President Majid Jamaleddine, Zinda has its headquarters in Candiac, Québec. The company plans to use the partnership with the Fonds to support its growth, which includes purchasing and installing a production line for pearl couscous, which Zinda is importing. The Zinda deal comes on the heels of the Fonds’ investment in boat manufacturer Pelican International Inc.
Fonds de solidarité FTQ Invests $3 Million to Back the Growth of Candiac-Based Zinda Products
Candiac, December 11, 2015 – In 1996, Majid Jamaleddine visited Québec for the first time. Three years later, he founded Zinda Products in Candiac, and in 2005 the entrepreneur was awarded the Prix d’excellence à l’exportation bioalimentaire du Québec by the Ministère de l’Agriculture, des Pêcheries et de l’Alimentation. Today, Zinda is the only couscous manufacturer in Canada and has become an industry leader in North America.
The Fonds de solidarité FTQ is investing $3 million in this promising Québec agrifood company to allow it to purchase and install a production line for pearl couscous, which Zinda is currently importing.
In 2008, Mr. Jamaleddine brought his three daughters Zineb, Yousra and Houda onboard with a view to gradually transferring knowledge, management, and ownership to them.
« The continued growth of Zinda over recent years demonstrates Majid Jamaleddine’s strong knowledge of the agrifood sector and export markets. With a strong succession plan in place, the future is bright for Zinda and its employees », said Janie Béïque, the Fonds’ Senior Vice-President of Industries, Entertainment and Consumer Goods.
“With the Canada-European Union Agreement, Canada will have access to one of the largest and richest markets in the world: 500 million consumers in 28 member states. Thanks to our competitive edge, we’re ready to conquer this massive market,” added Majid Jamaleddine, President and CEO of Zinda Products.
Depending on the season and shifts, the company employs between 65 and 70 people, including about 40 in production. Some 15 additional positions are expected to be opened over the next 18 to 24 months.
Zinda specializes in the production of a large variety of regular and flavoured couscous. About 25% of its production is organic. Its products are sold under the Zinda brand in Canada and Casablanca Gardens in the United States. The company also manufactures products under private label.
Zinda has succeeded in setting itself apart from the competition by offering a wide range of innovative products and using Canadian 100% durum semolina.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, 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 2,550 companies. With 610,605 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.FondsFTQ.com.
For media representatives only:
Mr. Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile : 514 703-5587
Ms. Zineb Jamaleddine
Produits Zinda Canada Inc.
Phone : 450-635-6664, ext. 269
Courriel : email@example.com
For Fonds de solidarité FTQ shareholders:
Fonds de solidarité FTQ
Montréal: 514 383-3663
Québec: 418 628-3663
Toll Free: 1 800 567-3663
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