The Caisse, Novacap and BMO invest in Québec company, Multibar Foods

The Caisse de dépôt et placement du Québec, BMO and Novacap announced today that they concluded a major investment in Québec company Multibar Foods Inc. This investment should enable the company to expand and significantly modernize its Montréal manufacturing plant to boost its production volume. Expanding the plant will also allow 80 new jobs to be created.

The investment made by the three partners is taking place at a time when the company recently secured a major contract with a new client who expects a substantial increase in its annual food bar production.

As part of the transaction, the Caisse is granting the company a subordinated loan of $15 million added to the initial investment it made in 2003.

“Once again, the Caisse joins forces with a thriving Québec company to support it in its growth projects and contribute to its success,” stated Normand Provost, Executive Vice-President Private Equity and Chief Operations Officer. “We are proud to partner with this Québec company that has established itself as a leader in the Québec agri-food industry.”

“Our strategy aims to help our companies acquire a dominant position in their sector. We are therefore pleased to be able to count on Multibar’s solid management team, which has extensive experience in the food industry and operations management,” explained François Chaurette, Chairman of Multibar’s Board of Directors and General Partner of Novacap.

“For companies such as Multibar Foods, BMO Bank of Montreal’s Corporate Finance Division offers a one-stop shop for an integrated line of products and financial solutions adapted to their situation,” stated Richard Côté, Vice-President, Corporate Finance Division. “We are particularly proud to contribute to Multibar’s growth through our implementation of financial solutions perfectly aligned with its needs.”

ABOUT MULTIBAR

Multibar is committed to setting the standard regarding the development and manufacturing of food bars by using the most advanced technology and by fostering investment in innovation.

ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held $151.7 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.cdpq.com   

ABOUT NOVACAP

With over $790 million in assets under management, Novacap is one of Canada’s leading private equity and venture capital firms. Since 1981, its partnership strategy has helped over 50 companies accelerate growth and maximize value. Novacap is one of North America’s top private equity firms, with first-quartile returns in North America. For further information, visit www.novacap.ca

ABOUT BMO FINANCIAL GROUP

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $503 billion as at October 31, 2011, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions. For more information, visit www.bmo.com