Nutrinor acquires majority stake in Fromagerie Champêtre
Canadian agri-food firm Nurtrinor has acquired a majority stake in cheese manufacturing company Fromagerie Champêtre.
Financial details have not been revealed by neither company.
Fromagerie Champêtre will now be owned by Nutrinor and Capital Croissance PME (CCPME), a Quebec-based investment company that provides capital support to small and medium-sized enterprises (SMEs) in the region.
CCPME is managed by Desjardins Capital.
The transaction is in line with the Nutrinor’s three-year investment plan, and strengthens its position in the agri-food sector.
Nutrinor general manager Yves Girard said: "It's a key step for Nutrinor. 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 dairy products, Nutrinor owns gourmet cheese producer Fromagerie Perron.
The investment is expected to further expand Nutrinor’s presence in the domestic fine cheeses market.
Desjardins Capital COO Luc Ménard said: "This acquisition of Fromagerie Champêtre will ensure that this iconic Lanaudière producer remains a Quebec-owned brand.
"The transaction announced today will also allow for the continued growth of a Saguenay-Lac-Saint-Jean co-op. 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."
Image: Nutrinor executives. Photo: courtesy of Nutrinor cooperative via Newswire.ca.