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Société générale de financement du Québec invests $5 million in Boucherie Jean-Guy Soucy inc.
Development capital will help family business pursue its growth plan
Montréal, November 23, 2007 — Société générale de financement du Québec (SGF) has concluded with Boucherie Jean-Guy Soucy Inc. (Soucy) a partnership involving a $5-million investment.
Soucy is a family company that processes meat for the supermarket and food-services industries. Since its founding in 1976 and the establishment of its first plant in the L’Acadie district of Saint-Jean-sur-Richelieu, Soucy has been known for its very high standards of quality and flexible response to customer needs. This ability to adapt has earned it recognition from large retail banners and restaurant chains as a reliable supplier of processed meat products.
SGF’s investment has enabled Soucy, among other things, to finance the construction of a new meat-processing plant in Saint-Jean-sur-Richelieu and to acquire two production lines for the slicing of delicatessen meats and two lines for the manufacture of precooked products. In this way, SGF is supporting the growth plan adopted by Soucy, while enabling the company to develop new markets.
The plant’s construction phase created 39 direct and indirect jobs, while its operation will create a total of 263 direct and indirect jobs, all in the Richelieu region. These jobs represent a payroll of $8.2 million and tax revenues of $2.4 million for the Québec government.
“SGF’s investment enables us to meet rising demand while targeting new customers. SGF’s experts understand our needs and expansion objectives. We can therefore increase our market share in Québec and the other provinces,” stated Pierre Soucy, General Manager of the company.
SGF President and General Manager Pierre Shedleur said he was proud of the partnership concluded with Soucy. “This investment reflects SGF’s determination to help well-managed Québec companies carry out their development plans. We’re impressed with the expertise and passion of Soucy’s managers, who have always been able to adapt their business to make the most of market opportunities.”
About Soucy
Boucherie Jean-Guy Soucy inc. opened in June 1976. At that time, the company, located in L’Acadie, near Saint-Jean-sur-Richelieu, was involved exclusively in retail sales. The founders, Jean-Guy and Jacqueline Soucy, quickly saw that their expertise would give them an advantage on the wholesale and food-services markets too.
In 30 years, what was originally a regional business has become a leading-edge company supplying major supermarket chains with primary-processing, value-added and private-label products. In doing so, it has won the trust of companies across Canada and the United States.
Pierre and Nathalie Soucy took over from their father in 2004 after gaining 24 years of experience with the company.
Société générale de financement du Québec (sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, with emphasis on the industrial sector, in co-operation with partners and on standard profitability conditions, in accordance with the economic development policy of the Québec government.
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Source:
Marie-Claude Lemieux
Senior Adviser
Communications and Media Relations
Société générale de financement du Québec
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