A $470-million investment to support the expansion of Agropur

unknown

A number of Québec’s institutional investors and bankers announced today a $470-million investment, in the form of preferred units, in Agropur Cooperative (www.agropur.com), Canada’s largest dairy cooperative. The transaction supports the cooperative’s growth strategy and finances its recently announced acquisitions, including the dairy processing assets of US-based Davisco and Canada’s Sobeys and Northumberland. As a result of these acquisitions, Agropur now ranks among the largest North American dairy product processors. The transaction announced today was made possible by investments by La Caisse de dépôt et placement du Québec of $150 million; National Bank and the Fonds de solidarité FTQ, each of which invested $75 million; Investissement Québec, contributing $65 million to the transaction; and Capital régional et coopératif Desjardins and Fondaction CSN, which invested $55 million and $50 million, respectively. Based on certain conditions, La Caisse de dépôt et placement du Québec’s stake could reach $300 million at the next issuance of preferred units. false false false Marie-Claude Boisvert, Chief Operating Officer of Desjardins Business Capital régional et coopératif, points out that part of CRCD’s mission includes supporting the growth of cooperatives. “We’re proud to stand with Agropur and their 3,473 members and dairy producers. The acquisitions made by this flagship of the Quebec cooperative sector will create more wealth locally for years to come,” said Boisvert. false false false ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC La Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2014, it held $214.7 billion in net assets. As one of Canada's leading institutional fund managers, La Caisse invests in major financial markets, private equity, infrastructure and real estate, globally. For more information about La Caisse: www.cdpq.com. ABOUT THE FONDS DE SOLIDARITE FTQ The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.1 billion as of May 31, 2014, 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 2,450 companies. With 613,958 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com. ABOUT NATIONAL BANK OF CANADA With $205 billion in assets as at October 31, 2014, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca. ABOUT INVESTISSEMENT QUEBEC Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment. For more information: www.investquebec.com. ABOUT CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS With approximately 95,000 shareholders and $1,460 million in net assets, Capital régional et coopératif Desjardins (CRCD) is a public company managed by Desjardins Business Capital régional et coopératif. CRCD contributes to Québec economic development through several levers developed with its manager, with CRCD as the driving force. These levers form CRCD’s entrepreneurial ecosystem designed to value and nurture the best of Québec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 370 businesses, cooperatives and funds in various industries spanning all Québec regions, helping to create and retain 48,000 jobs. www.capitalregional.com ABOUT FONDACTION CSN Fondaction CSN invests in Québec SMEs in order to help maintain and create jobs in Québec, within a context of sustainable development. It manages $1.2 billion in assets from retirement savings collected from 128,000 shareholders. Through its investments or commitments, either directly or by way of partner or specialized funds, Fondaction CSN supports the development of more than 850 companies, many of which are cooperatives. www.fondaction.com ABOUT AGROPUR Founded in 1938, Agropur is a leading player in the North American dairy industry. With sales of more than $3.8 billion as at the end of fiscal 2013, the Cooperative is a source of pride for its 3,473 dairy producer members and some 8,000 employees. Agropur processes more than 5.1 billion litres of milk per year in its 36 plants across North America and boasts an impressive line of products that includes such prestigious brands and products as Natrel, Québon, OKA, Farmers, Central Dairies, Sealtest, biPro, Island Farms, Agropur Grand Cheddar, and Olympic and iögo brands of Ultima Foods, a joint venture of Agropur Cooperative. false false false