Date Closed

January 25, 2022

Lead Office

Québec City

Value

100.00 Million CAD

On January 25, 2022, Investissement Québec (“IQ”) and the Fonds de solidarité des travailleurs du Québec (F.T.Q.) (“FSTQ”), announced they have partnered with Claridge Inc. to form Claridge Food Group (“CFG”), to create an investment vehicle to support Quebec food processing companies that show significant growth potential. This new financial vehicle, with a target size of nearly C$100 million, will provide companies with the financial resources, managerial and operational support, knowledge of global trends, and an extensive network of partners to support and accelerate their growth in Quebec and North America.

CFG is managed by Claridge Inc. and will target significant equity or quasi-equity investments in private companies in the food processing value chain.

IQ is a financing and business advisement company that helps various organizations establish themselves and thrive in Quebec.

FSTQ is a labour-sponsored fund that combines tax benefits of registered retirement savings plans with tax credits for investment funds dedicated to maintaining and creating jobs.

Claridge is a Montreal-based family office, that focuses its investments in small and medium-sized businesses and is actively engaged in managing a diversified portfolio of investments in private companies as well as interests in third-party managed funds in a variety of industries across the globe.

McCarthy Tétrault advised IQ and FSTQ with a team led by Mathieu Laflamme that included Alexandre Saulnier-Marceau, Florence Gagnon (Private Equity), Marie-Soleil Landry, and Kassandra Grenier (Tax).