La Cage – Brasserie Sporting Chain owner Group Sportseen is being sold to Jean Bedard and a consortium led by Champlain, the corporation financier who privatizes the company listed on the TSX Venture Exchange.
The buyer is offering $ 7.25 per share for a total of $ 51.25 million. The title is never too liquid.
“Privatizing the company will facilitate the company’s operations and better implement our strategic plan launched before the epidemic,” said Jean Bedard, president and chief executive officer.
Since 1984, SportsScene has operated the Law Cage – Brassery Sporty Network. It currently has 38 companies. The stadium has recently become more diverse. He runs an Asian restaurant. He began selling products in grocery stores under the La Cage and Moises brands, as well as home-delivered cooking boxes.
“We believe the team’s vision of the sports scene is in line with our desire to create strong Quebec brands,” said Pierre Simard, President of Champlain.
Champlain maintains a portfolio of 22 companies, including JLDLog, Luis Gorneau, Kanuk, Maison Carbail, Les Eax Naya, Bralt & Boutillier and Orthophob.
The agreement is backed by Charles Saint-Germain and his family, who control 53.2% of the total voting rights in the sports scene. A special committee of the Board of Directors considered the transaction to be in the best interests of the company. Shareholders will vote on the offer next January. A circular will be mailed to them in December.
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