In this column, published every two weeks, we provide an overview of insider transactions and investments in Quebec companies.
Nature’s Touch Gets Sunrise Growers
Quebec company Nature’s Touch announced yesterday that it has acquired some assets of Sunrise Growers, the frozen fruit division of American group SunOpta, for US$141 million ($193 million). The transaction includes factories located in Kansas and Mexico. Sunrise Growers made an operating profit of US$15 million on sales of US$263 million last year. Founded by John Tentomas in 2004, Nature’s Touch already has factories in Canada and the United States.
Marathon relies on Flyscan
Marathon Petroleum, the largest oil refiner in the United States, recently invested an undisclosed amount in a young Quebec-based company, Flyscan Systems. Flyscan’s patented technology enables early detection of oil leakages through aerial inspections. Founded in 2015 by the National Optics Institute (INO), Flyscan also counts Ontario engineering firm Hatch and pipeline operator Enbridge among its shareholders.
He sells Couche-Tard
Réal Plourde, one of the four founders of Alimentation Couche-Tard, sold shares of the Laval retailer for $14.7 million this week. He has more than $870 million left. Last month, another co-founder of the company, Richard Fortin, sold $14.5 million worth of shares. Couche-Tard’s stock has gained more than 20% since the start of the year.
HaiLa has raised $14 million
Photo taken from HaiLa Technologies website
Montreal-based young company HaiLa Technologies just raised US$10.4 million (CA$14.2 million) as part of a financing round led by Japanese component maker Murata Electronics, which also included Quebec funds TandemLaunch and Ecofuel. Founded in 2019, HaiLa is billed as a “fictional” company specializing in semiconductors and software for energy-efficient radio communications.
He buys GDI
GDI Building Services’ chief financial officer, Stéphane Lavigne, bought nearly $100,000 worth of shares in the Montreal company in late September. He now has about $800,000. GDI stock has lost just over 10% since the start of 2023.
Two local businesses were sold
In just over a week, two Quebec technology companies have accepted buyout offers from American buyers. Last week, H2O Innovation inked a deal with New York firm Ember, valued at $395 million. Caisse de dépôt et placement du Québec, Investissement Québec and company executives own 21% of the company. For its part, OpSens will go into the Haemonetics Corporation fold for $345 million.
Oneka has raised $12.5 million
Founded in Sherbrooke, the young company Oneka Technologies recently raised $12.5 million as part of a round that included several investors, including former prime minister Paul Martin and Quebec firm AQC Capital. Founded in 2015 by Dragan Tutik, Oneka offers wave energy-powered seawater desalination solutions.