Capital régional et coopératif Desjardins and the Fonds d'investissement Desjardins de l'Estrie invest in Fivetracks Inc.
Sherbrooke, June 18, 2002 - Capital régional et coopératif Desjardins and the Fonds d'investissement Desjardins de l'Estrie announced today at a news conference an investment of $350,000 in Fivetracks Inc., a Sherbrooke company specializing in the creation and sales of swimwear, clothing and sport footwear for 12-35 year-olds. Fivetracks operates under the following trademarks : Kess, Quintsoul, Fivetracks and Euve. Their products are presently on sale in sport boutiques across Canada, and this investment will make it possible for Fivetracks to expand its activities to the U.S. market. "With this investment we are taking an important step in the development of our organization, and we are very proud of the confidence shown by Desjardins," said Mr Louis Bourque, President of Fivetracks. "We are offering a quality product in a growing market, which gives us a great deal of confidence for the future. After only one year of operation, Fivetracks contributes to the creation and maintenance of 50 direct and indirect jobs in our region," he added. "Desjardins is proud to be a partner with entrepreneurs whose business talent is renowned. Fivetracks has rapidly become one of the most promising companies in the Sherbrooke region and its presence across Canada allows for great penetration of an excellent and opportunity-rich market," highlighted Mr François Lapointe, Regional Manager of the Fonds d'investissement Desjardins de l'Estrie. The sport clothing and footwear industry was born out of the explosion of the sports industry, which showed a rapid growth over the past 30 years, particularly with the emergence of a strong media presence for sports and the globalization of professional and amateur sports. Previously the terrain of performance specialists, sports has progressively reached wider audiences, and now enjoys mass appeal. Many people, above all 12-35 year olds, identify more and more with athletes of various sports disciplines and clothing and footwear brands have become popular with a market wishing to identify with these same brands. The market targeted by Fivetracks buys more and more of these clothes, which allows them to wear their passion for their sport on their sleeve while at the same time donning a stylish and fashionable garment. About Capital régional et coopératif Desjardins
Managed by Investissement Desjardins, Capital régional et coopératif Desjardins is a publicly-traded company whose main mission is to mobilize venture capital for the economic development of Québec. It makes its management expertise and network available for businesses and cooperatives in all regions of Québec, to support their startup, growth and expansion. About Investissement Desjardins
The mission of the Fonds d'investissement Desjardins de l'Estrie is to complete the range of services offered by Desjardins by actively contributing to the expansion of small and medium-sized enterprises (SMEs) in their startup and growth, in the largest economic sectors of the region. Like Investissement Desjardins, its regional funds have as an objective to create value in associated businesses while supporting their drive to a solid position in their sector of activity on Canadian and international markets. Investissement Desjardins and its six regional funds are partners with more than 120 growing businesses. www.desjardins.com/id - 30 - Source: Mr Jacques Beaulieu
Beaulieu Communications
tel : (819) 572-0886
E-mail: jbeau@abacom.com Information: Mr Louis Bourque
President Fivetracks Inc.
tel: (819) 569-7499 Ms Danièle Routhier
Coordinator, Communications/Media
Investissement Desjardins
tel: 1 (866) 866-7000 ex. 2211 E-mail: danrou@invdesjardins.qc.ca
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