This investment will propel the company to a leading position in the distribution of fresh fruits and vegetables across Canada.
Courchesne Larose Ltd. (“Courchesne Larose Group”), a leader in the Canadian fresh fruit and vegetable industry, is proud to announce a significant investment in its share capital by Sagard Private Equity Canada (“Sagard PE”), Sagard’s Canadian mid–market private equity fund, to accelerate its expansion and remain ahead of the curve.
“There is a strong fit between Sagard’s reputation and profile and the entrepreneurial culture within the Courchesne Larose family. In addition, we appreciate the extensive network and investment horizon of the Sagard team. We are extremely grateful for the loyalty and hard work of the 600 employees who are part of the Courchesne Larose family. We will ensure that the family culture that has served us so well remains the foundation of our business strategy and our success, and together, we will continue to manage the company’s growth, as my father and grandfather did and as we have done, for more than a century,” stated Alain Routhier, Co–president of the Courchesne Larose Group.
“We are proud to partner with the Routhier Monette family and their history of continuous growth dating back over 100 years, a truly impressive track record. This collaboration will have a positive impact for all of the Courchesne Larose Group’s stakeholders, including its employees, customers and suppliers,” added Marie-Claude Boisvert, Partner and Head of Sagard PE.
“We are already a major distributor of fruits and vegetables in Quebec, being the only Canadian player that is vertically integrated as producer, importer and distributor. With the support of Sagard PE, we will now have the ability to replicate our business model and increase our presence in markets outside Quebec and the Maritimes, and pursue our ambitious growth plan,” specified Michel Routhier, Co-president of Courchesne Larose Group.
Advisors
In the context of this transaction, Houlihan Lokey acted as the exclusive financial advisor to the Courchesne Larose Group, while DALAROY Conseil acted as a strategic advisor to the Routhier Monette family.
Lenders
National Bank of Canada, CIBC, Scotiabank, Royal Bank of Canada, Roynat Capital, Fondaction, Solidarity Fund QFL, and Roynat Equity Partners acted as lenders in connection with this investment.
