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Industry NewsClaridge’s ‘First Family’ invests in food processing innovation in Quebec

Claridge’s ‘First Family’ invests in food processing innovation in Quebec

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Investissement Québec and the Fonds de solidarité FTQ have partnered with Claridge to create an investment vehicle to support Quebec food processing companies that show significant growth potential. This vehicle will provide companies with the financial resources, managerial and operational support, knowledge of global trends, and an extensive network of partners to support and accelerate their growth in Quebec and North America.

This new financial vehicle has a target size of nearly $100 million.

The tool will be able to take positions in innovative food processing companies—majority or minority—to develop them into North American leaders.

Over the past twenty years, Claridge has invested over $400 million in a dozen food processing companies across Canada and the U.S. The investment platform’s management team will be led by Ludovic Dumas, vice president, direct investments, and Bob Leonidas, operating partner.

A long-time partner of Quebec food processors, Investissement Québec played a key role in setting up this investment fund, injecting $35 million of its funds.

Claridge is a Montreal-based family office that represents the interests of the Stephen Bronfman family, with a focus on maximizing long-term capital appreciation. Bronfman’s family has a long history with food and drink, building Seagram Co. Ltd. into one of the world’s biggest liquor empires in the 1990s as reported by The Canadian Press.

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