SGF Partners with Fruits & Passion
Montréal, October 13, 2006 – The Québec company Fruits & Passion and Société générale de financement du Québec (SGF) are pleased to announce their partnership. SGF will own 30% of the shares in the family-run business located in Candiac, on Montréal’s South Shore. By investing in the company, SGF will be assisting in a new development phase that will ultimately lead to the creation of 150 jobs in Candiac.
Established in 1992 by Jean Hurteau, Guy Hurteau and France Ménard, Fruits & Passion has experienced remarkable growth. Its unique products, known for their originality and authenticity, are sold in 12 countries via a network that includes 150 boutiques and more than 2,000 selective distribution points of sale. In pursuing its growth, the company, which now has more than 400 employees, is looking to develop new markets and increase productivity in order to meet Canadian and international demand.
"We chose SGF because its supportive mission dovetails with our objectives,” said Fruits & Passion President, Jean Hurteau. “We want to continue our expansion from a solid position, and we need a partner receptive to the short-term strategies and decisions that will ensure our long-term growth and profitability objectives.”
In keeping with its mission, SGF provides growth capital to productive companies in Québec to help them carry out their development strategies and maximize their operations. What’s more, since all stages of Fruits & Passion’s production and marketing are already well integrated in Québec, SGF’s investment will promote job creation in various industries here.
“We are very proud to partner with Fruits & Passion, a model of Québec entrepreneurship. We hope to accompany this profitable enterprise in achieving its growth objectives,” said Pierre Shedleur, Chairman of the Board, President and General Manager of SGF.
Premier Jean Charest took advantage of the partnership announcement to restate the government’s goal to create an investment-friendly environment that promotes business development. “Private investment projects have a significant impact on the creation of quality jobs in Québec. As part of our modernization plans, we have redefined the rules of governance for some provincial Crown corporations, including SGF, to target their activities more precisely and improve profitability.”
“Fruits & Passion is innovative and export-oriented – the two keys to Québec’s economic development in a global market. I salute this partnership with a highly profitable company,” has added Raymond Bachand, Minister of Economic Development, Innovation and Export Trade.
Established in 1992, Fruits & Passion (www.fruits-passion.com) is a family-owned company with a full line of home ambiance, body care and kitchen lifestyle products. Through vertical integration, the company is active in product development, manufacturing, distribution and retail sales. Fruits & Passion is based in Candiac, Québec, and employs more than 400 people.
Société générale de financement du Québec (www.sgfqc.com) is an industrial and financial holding company. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy.
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Group Manager, Communications
Fruits & Passion
Tel.: 450 638-2212
Senior Communications and Media Relations Advisor
Société générale de financement du Québec
Tel.: 514 876-9368
Mobile: 514 298-0689