Fonds de solidarité FTQ, Capital croissance PME invest in DMB Distribution alimentaire
DMB Distribution alimentaire, a Canadian food products distributor, has received an investment from the Fonds de solidarité FTQ‘s regional network and Capital croissance PME, an investment fund created by the Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins (CRCD). The deal supported an ownership transfer that saw DMD officers and a new investor acquire part of the company’s shares.No financial terms were released.
The continuity of the company, established in 1981 in Saint-Augustin-de-Desmaures, will be assured by Sylvain Laroche, DMB’s current president and CEO, Gérald Cayouette, former sales manager at Maple Leaf, Caroline Blanchette, DMB’s financial director, Benoit Laroche, the company’s director of operations and François Lamontagne, director of operations at DMB Mascouche. DMB has 200 employees between its two warehouses in Mascouche and Québec City.
“We are happy to see that DMB’s management team will be remaining on board and adding a new member. Caroline Blanchette, François Lamontagne and Benoit Laroche are ensuring continuity while Gérald Cayouette will enrich the company with his 30 years of experience in the food market. We would like to thank Conrad Boivin for facilitating this transfer, as well as the Fonds régionaux de solidarité FTQ and Capital Croissance PME,” said Laroche.
“Due to a lack of buyers, 5,700 to 10,000 companies could disappear within the next 10 years, meaning a loss of 80,000 to 140,000 jobs.1 By taking the bull by the horns, companies such as DMB are maximizing their chances of survival,” said Jean Roy, regional director of the Fonds régionaux de solidarité FTQ Québec.
For Michel Leclerc, Vice-President, Subordinated Debt, North and East Québec, at Desjardins Entreprises Capital régional et coopératif, the manager of Capital croissance PME, DMB Distribution alimentaire used the right formula for succession. “DMB Distribution alimentaire planned for the changeover in key positions by hiring, mentoring and integrating the right people into the management team, and in so doing, ensuring the company’s continuity.”