The Caisse de dépôt et placement du Québec and the Business Development Bank of Canada (BDC) announced a joint investment of $17.5 million in Sunchef Foods, a player in Quebec’s chicken processing industry.

The Caisse is investing a total of $10 million, while BDC is investing $7.5 million.

This financing will enable Sunchef to complete Phase 3 of its Anjou plant expansion and diversify its products. Once the expansion is complete, Sunchef intends to launch new product lines intended for the retail and food services markets.

“As a long-term investor, it is critical that we support successful Quebec companies at key points in their growth,” said Normand Provost, executive vice-president, private equity, with the Caisse. “Since we made our first investment back in 2006, the company has grown at a fast pace, creating attractive returns for our clients.”

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Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

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