La Caisse, Agropur create joint investment platform to help foster innovation in dairy industry
The $40 million platform will be funded by the two partners on a 50/50 basis.
Caisse de dépôt et placement du Québec (la Caisse), Canada, and Agropur Cooperative, Canada, announced plans to set up a new joint investment platform for businesses in the dairy industry.
The $40 million platform will be funded by the two partners on a 50/50 basis and invest in innovative businesses specializing in dairy-related products and technologies.
This opportunity will allow la Caisse to make the most of Agropur's extensive operational knowledge of the agri-food sector, and Agropur to tap into la Caisse's financial expertise in supporting small and medium-sized enterprises.
"Agropur is committed to leading the way in innovation. Through our forward-thinking efforts, we aim to anticipate the needs of our customers and consumers and create the dairy products of tomorrow. With this new platform, we are targeting innovation-oriented businesses that will help bring new vigor to the dairy industry. We are happy to partner with la Caisse on this initiative, which is the only one of its kind in North America," says Robert Coallier, chief executive officer of Agropur.
"La Caisse is looking to play a role in transforming businesses operating in traditional industries by supporting those at the forefront of innovation. This platform will enable companies serving the agri-food sector — a key driver of the Québec economy — to obtain the funding necessary to stay at the cutting edge," says Christian Dubé, la Caisse's executive vice president, Québec. "We are pleased to invest alongside Agropur, a major industry player that has successfully demonstrated its expertise in the field over the years."