Metro buying Première Moisson bakery
Retailer to acquire majority interest in Quebec bakery manufacturer, retailer
Metro Inc. is buying a majority stake in Quebec bakery manufacturer and retailer Première Moisson.
The Montreal-based grocery giant announced this morning that it will purchase 75% of the company. The Colpron-Fiset family that owns Première Moisson will retain 25% ownership and will continue to manage the firm. The closing transaction is expected to take place in the next few weeks. The purchase price was not disclosed.
Eric La Flèche, Metro’s president and CEO, said in a release that the deal is beneficial to both companies. While Metro will be able to offer broader premium bakery products, Première Moisson will be able to expand its premium artisan brands throughout Quebec and eventually across Ontario. Founded in 1992, Première Moisson makes premium bakery products that are sold in its own bakery stores as well as those of major grocery chains in Quebec. Première Moisson operates 22 bakeries in the Greater Montreal area, and one in Ottawa. “Through this partnership with Quebec’s leading food distributor, Première Moisson makes a huge step forward from being a family business to reach broader scope and sale,” said Lilane Colpron, president of Première Moisson. “The strength of Metro and its extensive network offers us a unique opportunity to showcase our high quality products to a greater number of consumers.”
The deal will cover the shares held by the Colpron-Fiset family in 23 Première Moisson and three production centres located in Dorion, Baie-d’Urfe and Terrebonne. Under the agreement, Metro will provide for maintenance for all jobs at Première Moisson, and any partnerships in place.
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