La Coop fédérée, Quebec’s largest agri-food enterprise and the only pan-Canadian agricultural cooperative, has completed the second tranche of previously announced $200 million preferred investment by National Bank of Canada, Fonds de solidarité FTQ, Fondaction CSN, and Capital régional et coopératif Desjardins (CRCD).
The first installment closed in May 2017.
As in the first installment, National Bank of Canada contributed $45.0 million, Fonds de solidarité FTQ $22.5 million, Fondaction $17.5 million and CRCD $15.0 million.
Fasken Martineau DuMoulin acted as legal counsel to La Coop fédérée.
In March 2018, La Coop fédérée agreed to acquire from Cargill the grain and crop inputs retail assets in Ontario, including its ownership in South West Ag Partners for an undisclosed amount. The transaction is expected to close in Q2 this year.
On April 24, 2018, La Coop fédérée closed the acquisition of Standard Nutrition Canada (SNC), a Winnipeg based company offering animal nutrition products and services. for undisclosed.
Proceeds of the second tranche are likey, in part or in whole, to fund the acquisitions.
photo credit: La Coop fédérée