In this biweekly column, we provide an overview of insider transactions and investments in Quebec companies.
Nature’s Touch acquires Sunrise Growers
Quebec-based Nature’s Touch announced yesterday that it had acquired some of the assets of Sunrise Growers, the frozen fruit division of US conglomerate SunOpta, for US$141 million ($193 million). The deal includes plants located in Kansas and Mexico. Sunrise Growers generated operating profit of $15 million on sales of $263 million last year. Nature’s Touch was founded in 2004 by John Tintomas, and already has factories in Canada and the United States.
Marathon is based on Flyscan
Image taken from Flyscan website
Marathon Petroleum, the largest oil refiner in the United States, recently invested an unspecified amount in Flyscan Systems, a startup from Quebec. Patented Flyscan technology enables early detection of oil spills through aerial inspections. Founded in 2015 thanks to the work of the National Institute of Optics (INO), Flyscan also counts Ontario engineering firm Hatch and pipeline operator Enbridge among its shareholders.
Sell Couche-Tard
Real Plourde in 2022.
Image taken from the University of Montreal website
Real Plourde, one of Alimentation Couche-Tard’s four co-founders, sold shares of the Laval retailer for $14.7 million this week. He has more than $870 million remaining. Last month, another co-founder of the company, Richard Fortin, sold $14.5 million worth of stock. Couche-Tard stock is up more than 20% since the beginning of the year.
HaiLa raises $14 million
Image taken from HaiLa Technologies website
Young HaiLa Technologies from Montreal has raised US$10.4 million ($14.2 million CAD) as part of a funding round led by Japanese component manufacturer Murata Electronics in which Quebec funds also participated. Founded in 2019, HaiLa bills itself as a “fabless” company specializing in energy-efficient semiconductors and wireless communications software.
Buy GDI
Stefan Lavigne
Image taken from GDI website
GDI Building Services CFO Stephane Lavigne bought nearly $100,000 worth of stock in the Montreal company at the end of September. He now owns nearly $800,000. GDI stock has lost just over 10% since the start of 2023.
Two local companies were sold
Louis Laflamme, President and CEO of OpSens.
Photo by Stevens LeBlanc
In just one week, two Quebec technology companies have accepted purchase offers from American buyers. Last week, H2O Innovation reached a deal with New York-based Ember that gives it a valuation of $395 million. The Caisse d’État et Deposit du Québec, Investissement Québec and the company’s executives will own a 21% stake in the company. For its part, OpSens will move to Haemonetics Corporation for $345 million.
Oneka raises $12.5 million
Image taken from Oneka Technologies website
Oneka Technologies, a startup founded in Sherbrooke, recently raised $12.5 million as part of a round in which several investors participated, including former Prime Minister Paul Martin and Quebec firm AQC Capital. Founded in 2015 by Dragan Totic, Oneka offers seawater desalination solutions powered by wave energy.
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