The Caisse de dépôt et placement du Québec, along with the Bank of Montreal and private equity firm Novacap, is investing in Quebec-based food company Multibar Foods Inc. The investment is to enable the company to expand and modernize its Montreal manufacturing plant; the expansion is expected to create 80 new jobs.
The overall amount of the trio’s investment wasn’t disclosed, but the Caisse said in a statement that it is granting the company a subordinated loan of $15 million.
“Once again, the Caisse joins forces with a thriving Quebec company to support it in its growth projects and contribute to its success,” said Normand Provost, executive vice-president of private equity and chief operations officer for the Caisse. “We are proud to partner with this…company that has established itself as a leader in the Quebec agri-food industry.”