A total of $24.8 million invested in 2020-2021 in 17 regional companies such as Les Serres Royale
Highlights
- In fiscal 2020-2021, the Fonds régionaux de solidarité FTQ Laurentides invested $24.7 million in 17 regional companies.
- Les Serres Royales, AMB Modulaire, La Petite Bretonne, Alimentation Sunbec, Hydrolico International Les aliments Kamloop are among the investment recipients.
- Following a record year of investments by the 17 Fonds régionaux de solidarité FTQ, the Fonds de solidarité FTQ invested an additional $200 million in the network to further drive regional economic development.
Saint-Antoine-des-Laurentides, June 21, 2021 – The Fonds régionaux de solidarité FTQ Laurentides (FRS) recorded the second-best year in its history with $24.7 million invested in 17 companies during fiscal 2020-2021. By supporting partners such as Les Serres Royale, these major investments encouraged local entrepreneurship and helped create quality jobs in the region.
“Despite a year marked by the pandemic and an unusual context, the Fonds régionaux de solidarité FTQ Laurentides is very proud to have posted one of its best years ever. In addition to having contributed to the growth projects of various companies, a number of the investments made in 2020-2021 are in line with the government’s economic priorities. For example, the sums invested in Les Serres Royales will help ensure Québec’s food sufficiency, create quality jobs in Québec and drive regional economic growth. The FRS are committed to being there to support their partners, even in times of uncertainty such as the one we’ve been going through since spring 2020,” said Éric Dargis, Regional Vice-President, Fonds régionaux de solidarité FTQ Laval-Laurentides-Lanaudière.
Les Serres Royales
Les Serres Royales was founded in 1995 by Gilles, Pascal, Stéphan and Cécile Lemieux in Saint-Jérôme, located in the Lower Laurentiens. At first, Les Serres Royales’ entire production was focused on pink tomatoes. Different cultivars were added over time, including red, yellow and orange vine tomatoes, cocktail tomatoes, cherry tomatoes and grape tomatoes. In 2018, the founders’ children took over from their parents, acquiring the business whose size has grown from 10,000 square feet to 600,000 square feet today.
The sums invested by the Fonds régionaux de solidarité Laurentides will be used to ensure the long-term development of the company, which hopes to acquire high-performance, state-of-the-art and environmentally responsible greenhouses to produce and market quality tomatoes year-round, even in winter.
“On behalf of our valued employees and the entire Lemieux family, I would like to thank the Fonds régionaux de solidarité FTQ Laurentides for its confidence in us. This investment will help our company grow and succeed, as well as ensure that we remain the best in our industry thanks to the latest technology. For more than 25 years, Les Serres Royales has continued to grow and capture market share but above all to put colour and flavour on Quebecers’ plates,” said Stéphane Lemieux, president of Les Serres Royales.
“The record year we experienced speaks to the dynamism of Québec entrepreneurs despite the pandemic. We’re proud to have supported the growth objectives of SME owners, whether through succession, acquisition, innovation or modernization projects. Investing for a better society means supporting economic development and jobs in all regions of Québec,” said Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ.
An additional $200 million for regional economic development
“When the Fonds régionaux de solidarité FTQ were created in 1996, the development capital industry was highly concentrated in Montréal and not very accessible outside the metropolitan area. Since then, the FRS have invested $1.15 billion in some 1,500 Québec SMEs. Such a track record would not have been possible without the vital contribution of the employees in the 17 decision-making centres of the FRS network and the active participation of the business community in every region of Québec,” said Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.
“To further drive regional economic development, the Fonds de solidarité FTQ is investing an additional $200 million in the FRS network. The teams on the ground will therefore continue to have access to the capital they need to support entrepreneurs in their projects,” added Ms. Béïque. This new funding brings the Fonds’ contribution to the FRS network to $500 million, in addition to the profits realized and reinvested.
Business solutions that make a difference
With 17 offices across Québec, the Fonds régionaux de solidarité FTQ offer small and mid-sized enterprises customized loan and equity solutions. Each product is developed based on the company’s characteristics and the region’s economic reality. Requiring no corporate or personal guarantee, FRS loans do not entail any legal or management fees and are intended to complement the financing offered by traditional financial institutions.
About the Fonds régionaux de solidarité FTQ
Celebrating their 25th anniversary this year, the Fonds régionaux de solidarité FTQ help further regional economic development in Québec by channelling the savings of over 700,000 Quebecers into local investments. The Fonds régionaux have invested $1.15 million in close to 1,500 companies since their inception in 1996, supporting more than 55,500 jobs. For more information, visit fondsreg.com.
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