The Caisse de dépôt et placement du Québec will make additional investments in Metro Supply Chain Group Inc., a Canadian third-party logistics services provider.
The pension fund initially invested in the company in April 2018 when it began acquiring logistical and distribution companies linked to the e-commerce sector.
“We are pleased to continue and strengthen our relationship with Metro, a major Quebec-based company specializing in customized supply chain logistics solutions,” said Mathieu Gauvin, senior vice-president of Quebec at the Caisse, in a news release. “Logistics is a priority sector for the digital transformation of Quebec’s companies.
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“Metro has continued to modernize and adapt to the changes in consumer behaviour. Today, the company is a leader in its industry, meeting the needs of both the traditional and digital sectors,” he added.
Based in Montreal, Metro will use the additional capital to grow and expand its operations abroad, noted the release. Currently, it’s in the North American and European markets with more than 6,000 employees.
“We’re very happy to be furthering this relationship with la Caisse,” said Chiko Nanji, chief executive officer at Metro. “As a logistics company, we are continuously evolving to anticipate the current and future needs of the customer. Whether we’re developing new markets or transforming existing ones, this transaction with la Caisse offers Metro a tremendous level of agility to develop additional solutions that can really change the way our customers do business.”
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