Montréal, July 20, 2007 – The Solidarity Fund QFL (the “Fund”) announced that it has officially closed a $75 million investment in the Van Houtte buyout, making it a minority shareholder in the transaction led by the investment firm Littlejohn & Co., LLC.
“This is an important transaction that we are proud to make in a Québec beacon company. It is also perfectly in line with our mission to keep jobs in Québec and to create value for our shareholders. This investment helped keep Van Houtte’s headquarters in Montréal, something we consider very important. Although Van Houtte still has room to grow in Québec, the greatest potential lies in Ontario and the U.S. I am convinced that our long-term partnership objective will benefit the company’s management team, which has the expertise required to execute its growth plan,” said Fund chief executive Yvon Bolduc.
With $7.2 billion in net assets, long-term investment objectives, an approach designed to build business value, and highly specialized teams, the Fund has the means to make sizeable investments. In fact, the Fund just came off a record year in which together with its network of regional funds, it invested a total of $668 million in 145 Québec enterprises, making it the leading purveyor of venture and development capital in Québec. This performance attests to the important role the Fund plays in the Québec economy, in creating and preserving jobs, and in building prosperity for Quebecers.
About the Solidarity Fund QFL With net assets of over $7.2 billion, the Solidarity Fund QFL is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 1,681 companies. It currently has nearly 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect over 116,000 jobs. For more information, visit
www.fondsftq.com.
Note: The telephone number provided below is for the exclusive use of journalists and other media representatives.Source: Josée Lagacé
Senior Advisor, Press Relations and Communications
Solidarity Fund QFL
Telephone: 514 850-4835
E-mail:
jlagace@fondsftq.com