Fonds de solidarité FTQ and CDPQ Win 2023 M&A Award for Private Equity Deal of the Year

Montréal, May 26, 2023

The Fonds de solidarité FTQ and CDPQ were awarded the Private Equity Deal of the Year prize at the 7th edition of the M&A Awards Gala, recognizing the success of Québec's M&A professionals and intermediaries, for the acquisition of 65 % of North America's leader in canned and frozen vegetable processing, Bonduelle Americas Long Life (BALL), now NORTERA. 

"We are proud and grateful to see our efforts and work recognized in this way. The BALL acquisition is a milestone for the Québec agri-food industry and one of the largest deals in the Fonds' history. I would like to acknowledge the work of the entire Agrifood and Health team involved in this file. I'd also like to congratulate our partners at CDPQ, without whom this acquisition would not have been possible. Finally, I would like to thank NORTERA general manager Daniel Vielfaure and all the workers who contribute to the company's growth every day, as well as Bonduelle for this partnership," said Dany Pelletier, Executive Vice-President, Private Equity and Impact Investing, Fonds de solidarité FTQ.

"CDPQ is particularly proud to have become a shareholder in NORTERA, one of North America's leading food companies, and even prouder that the quality of this deal has been recognized in the marketplace. Congratulations to our teams who contributed to this success and to our partners, with whom we are pursuing the company's ambitious expansion plan," said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. 

This deal is a far-reaching investment on a provincial scale given that NORTERA sources its vegetables from 385 Québec producers. Keeping its head office in Québec is an essential component of its formula for food self-sufficiency.

About the Fonds de solidarité FTQ

A source of pride for Quebecers, the Fonds de solidarité FTQ fulfills its mission thanks to a unique business model created 40 years ago. Since its inception, the Fonds has rallied Quebecers, collecting and channeling the retirement savings of its 753,125 shareholders into investments that help drive the Québec economy.

With net assets of $17.8 billion as at November 30, 2022, the Fonds supports more than 3,600 companies through venture and development capital investments underpinned by the conviction that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2022, CDPQ's net assets totalled CAD $402 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.

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