CPE News (11.30.2023) – Antoine Casimir and Andrea Borodenko have acquired Production Lareault, Canada’s largest strawberry plant producer, from founders Luc and Lyne Lareault.
The transaction closed in July 2023. Financial terms were not disclosed.
Fonds de solidarité FTQ, Desjardins Group and FCC provided loans for this transaction.
With 185 hectares in the Lanaudière region, roduction Lareault remains a Québec operation as it marks its 70th anniversary this year.
“We are honoured to take up the torch from Luc and Lyne Lareault, who succeeded in building a Québec flagship with an international reputation. The support of our financial partners was crucial to the deal’s success and to keeping the head office in Québec. We are also delighted that all the employees will remain and that we can count on the support of Luc and Lyne Lareault to facilitate the transition. Lareault is an excellent platform for our future projects, which will leverage the company’s enviable reputation for quality and innovation,” said Antoine Casimir and Andrea Borodenko.
photo credit: roduction Lareault, Andrea Borodenko and Antoine Casimir
News Release
Lavaltrie-Based Production Lareault Remains in Québec Hands Following Business Transfer
The Fonds de solidarité FTQ, Desjardins Group and Farm Credit Canada (FCC) provide loans to support the ownership transfer
LAVALTRIE, QC, Nov. 30, 2023 /CNW/ – Canada’s largest strawberry plant producer Production Lareault is embarking on the next chapter of its history with the arrival of new owners. Antoine Casimir and Andrea Borodenko have acquired the Lavaltrie company, founded in 1953 and run by Luc and Lyne Lareault. With 185 hectares in the Lanaudière region, the company thus remains a Québec operation as it marks its 70th anniversary this year.
The Fonds de solidarité FTQ, Desjardins Group and FCC provided loans for this transaction.
“We are honoured to take up the torch from Luc and Lyne Lareault, who succeeded in building a Québec flagship with an international reputation. The support of our financial partners was crucial to the deal’s success and to keeping the head office in Québec. We are also delighted that all the employees will remain and that we can count on the support of Luc and Lyne Lareault to facilitate the transition. Lareault is an excellent platform for our future projects, which will leverage the company’s enviable reputation for quality and innovation,” said Antoine Casimir and Andrea Borodenko.
“Antoine and Andrea are dynamic Quebecers who know the market very well. They have several meaningful projects in mind for the future. I’m confident that their shared passion and expertise will propel Production Lareault to the next level,” said a delighted Luc Lareault, who will remain with the company to ensure a smooth handover and support Antoine and Andrea’s expansion plans.
“Business transfers are a major challenge for our SMEs. We are proud to support sellers like Luc and Lyne Lareault, and buyers like Antoine Casimir and Andrea Borodenko, who take the time to develop a succession plan that will help their company grow. Whether it’s coaching or financing, solutions exist for entrepreneurs who want to ensure the future of the company they’ve built and for buyers who want to contribute to our local economy,” said Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.
“Desjardins is multiplying its initiatives to support entrepreneurs in their succession planning so as to keep businesses and head offices in Québec. A good plan, developed well in advance, helps owners anticipate how they will transfer the business to the next generation. But beyond purely financial matters, buyers and sellers need to be guided on a human level during this critical period. We’re very pleased to have been able to support the founders and new owners of Production Lareault. This transaction is excellent news for the agri-food sector,” said Jean-Yves Bourgeois, Executive Vice-President of Desjardins’ Business Services Group.
“If our SMEs are to continue driving the Québec and Canadian economies, we must support owners looking to sell and entrepreneurs looking to buy,” said Paul Béland, FCC’s Senior Relationship Manager. “Thanks to the keen business sense and know-how of Production Lareault’s former and new owners, this transfer will long be held up as an example. What a great way to celebrate the company’s 70th anniversary. We wish Production Lareault and its new owners the best for the future.”
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 765,721 shareholders.
With net assets of $18.4 billion as at May 31, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.
About Desjardins Group
Desjardins Group is the largest cooperative financial group in North America and the fifth largest in the world, with assets of $409.6 billion as at June 30, 2023. Desjardins was named one of the World’s Top Female-Friendly Companies by Forbes magazine. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms, and subsidiaries across Canada. Ranked among the world’s strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry.
About FCC
FCC is Canada’s leading agriculture and food lender, dedicated to the industry that feeds the world. FCC employees are committed to the long-standing success of those who produce and process Canadian food by providing flexible financing, AgExpert business management software, information and knowledge. FCC provides a complement of expertise and services designed to support the complex and evolving needs of food businesses. As a financial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it serves. For more information, visit fcc.ca.
SOURCE Production Lareault
For further information: Press contacts: Production Lareault Inc., Andrea Borodenko, Owner and Vice-President, andrea@lareault.com, 450-586-1850; Fonds de solidarité FTQ, Patrick McQuilken, Senior Advisor, Media Relations, 514 703-5587, pmcquilken@fondsftq.com; Desjardins Group, Marc-Antoine Lavoie, Senior Public Relations Advisor, 418 563-8853, marc-antoine.lavoie@desjardins.com; FCC, Éva Larouche (Bilingual), Corporate Communication, 1-888-780-6647, eva.larouche@fcc.ca