Every week, we provide an overview of insider trading, investments in local businesses and news from publicly traded companies.
Quebec paper giant Kruger announced this week the sale of its majority stake in Maison des futailles, a major bottler of wine and spirits, to Groupe Dandurand. Recently known as Station 22, the company produces, from imported bulk wine, no less than 24 million bottles of wine per year, which are mainly sold in grocery stores and convenience stores. Kruger took control of this former SAQ subsidiary in 2006. Dandurand is a wine importer founded 54 years ago.
TFI International CEO Alain Bédard made a profit of nearly $5.5 million last month by exercising stock options in the Quebec trucking company. Mr. Bédard, who has earned tens of millions of dollars from options in recent years, was entitled to total compensation valued at nearly US$12.8 million in 2021.
Bombardier Recreational Products (BRP) has just taken a further step towards the electrification of its vehicles with the acquisition of Great Wall Motor Austria, a research and development center specializing in driving systems and transmissions. A subsidiary of the Chinese company Great Wall Motor, the center employs 53 professionals and technicians. In China, Great Wall ranks first in sport utility vehicles and third in electric cars.
Two of the best-known vehicle rental companies in Quebec, Sauvageau and Légaré, are sold to a consortium led by the investment firm Champlain, which also includes Desjardins Capital, Fondaction CSN and Société financière Bourgie. Last year, the group completed the acquisition of JLD-Laguë, a chain of John Deere and Peterbilt dealerships.
Gatineau real estate group Devcore announced this week the acquisition of the NAV Center in Cornwall. Overlooking the St. Lawrence, this imposing complex includes a hotel, a training center and a convention center. Earlier this year, Devcore secured 555 of Sept-Îles' 2,500 rental units, a deal that has made waves in the region.
John Assaly, who until recently was vice-president of global sourcing at Dollarama, made a profit of nearly $200,000 this week exercising options at the Montreal retailer. The company, which hit a new all-time high on the stock market yesterday, is now worth more than $22 billion.
