Canadian private equity and venture capital firm the Fonds de solidarité des travailleurs du Québec FTQ has invested $5 million in Produits alimentaires Viau Inc, an independent producer and distributor of deli products. The deal allowed Viau to open new facilities in Laval, Québec, optimize its Montréal-Nord plant, and acquire technology that uses safe natural water to eliminate potential pathogens in its finished products. Established in 1977, the company is based in Laval. Since their inception, the Fonds de solidarité FTQ and its Fonds régionaux de solidarité FTQ have invested more than $504 million in 108 companies in the agrifood sector.
Fonds de solidarité FTQ Investment in Produits alimentaires Viau Helps Create 100 Jobs
Montréal, June 12, 2014 – With the opening of the new facilities of Produits alimentaires Viau, the Fonds de solidarité FTQ announced a $5 million investment, which allowed the company to go ahead with its expansion project and cement its leadership in the Québec agrifood industry. By the time the project is completed, Viau will have created about 100 jobs over a three-year period.
“Viau stands out from the competition with its wide assortment of high-quality products, an excellent food safety track record, a well-established distribution network and a stable, experienced management team,” said Janie Béïque, Senior Vice-president, Natural Resources, Industries and Consumer Goods at the Fonds de solidarité FTQ. “This is a winning recipe for both Viau’s employees and Québec’s agrifood industry.”
The Fonds’ investment enabled the company to expand its Laval facilities, optimize its plant in Montréal-Nord and acquire high-pressure processing (HPP) technology that uses safe natural water to eliminate potential pathogens in its finished products.
“As a result of this expansion project, we will be able to remain at the forefront of food safety thanks to our state-of-the-art HPP system and clean rooms. We will also be able to improve productivity in order to fend off competition from the U.S., and lastly, we’ll be able to help propel the Québec economy forward by adding some 100 jobs over three years. We’re very pleased to be partnering with the Fonds de solidarité FTQ, an institution that shares our vision and values,” added Pat De Marco, President and Chief Operating Officer of Produits alimentaires Viau.
Established in 1977, Produits Alimentaires Viau is a family business that has grown into one of the largest independent manufacturers and distributors of deli products. The company’s breakthrough came when it developed a recipe for dry cured pepperoni destined for the food services and processing industries. The product went on to become Viau’s top seller and is today the best-selling pepperoni in the country. In 1999, Viau ventured into the retail sector with the acquisition of Fantino & Mondello and in 2001 began shipping its products across the country and to the Northeastern United States. Initially located in Montréal-Nord, Viau built a second plant in Laval in 2007, along with a warehouse. This location is also home to the company’s headquarters. Viau has 350 employees in Québec.
Since their inception, the Fonds de solidarité FTQ and its Fonds régionaux de solidarité FTQ have invested upwards of $504 million in 108 companies in the agrifood sector.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $9.7 billion as of November 30, 2013, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec’s economic growth. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in close to 2,400 companies. With its more than 615,000 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect more than 170,000 jobs. For more information, visit www.FondsFTQ.com.
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