Montréal, December 2, 2008 – Capital régional et coopératif Desjardins announces the buyout of the food division of Montréal-based Maison de distribution Colac inc. (“Colac”). Carried out as part of a business transfer, this transaction of nearly $5 million allows entrepreneurs who are ready to retire to transfer the business to able successors. Founded in 1988, Colac specializes in the distribution of food products, packaging and cleaning products. With nearly 50 employees, Colac services restaurants, caterers and cafeterias, primarily in the greater Montréal area, on a daily basis.

“We are extremely proud of this latest acquisition, which allows us to contribute to retaining ownership of our companies here in Québec,” says Yves Gagné, Vice-president, Major Investments and Company Buyout at Desjardins Venture Capital. “In addition to backing a Montréal-owned business, this transaction bridges two generations of entrepreneurs – those who are ready to retire can step down while safeguarding their assets and a new generation can take the helm. Through this type of transaction, Desjardins seeks to foster the emergence of a new generation of entrepreneurs. In this instance, David Rensonnet becomes co-shareholder and President and CEO of the company,” he continues.

Well-known in the food distribution industry, Mr. Rensonnet is delighted by Desjardins’ confidence which allows him to fulfil his dream of entrepreneurship in a promising industry he knows well and holds dear. “I have wanted to undertake a transaction such as this for a number of years and I am delighted to join forces with a dynamic team that is as dedicated as I am to growing Colac.”  

“Many entrepreneurs know that they need capitalization for continued growth and that they must to join forces to generate enough critical mass to meet future challenges. But some are looking to retire and don’t want to risk tying their assets to major financing projects. In such cases, which we see more and more often, business buyout by a financial stakeholder like Desjardins can be the best solution,” says Mr. Gagné.  

“An offering as comprehensive as Desjardins’, giving entrepreneurs a single window for the support and structure of these financial transactions, cannot be matched – a fact that a number of satisfied Québec entrepreneurs can already vouch for,” concludes Mr. Gagné. 

Capital régional et coopératif Desjardins

Founded in 2001, Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. With over 123,000 shareholders, the Company contributes to Québec’s economic development while driving the growth of cooperatives and the resource regions. Capital régional et coopératif Desjardins currently supports 200 companies and cooperatives in various industries spanning all Québec regions. (capitalregional.com)

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