Parties
Company
Winter Farm Inc.
Government
Government of Quebec
Company
Investissement Quebec Inc.
On December 13, 2022, Winter Farm, a Quebec-based company aiming to replace 10 percent of Canada’s strawberry imports, raised approximately $50 million. The funding was facilitated by support from the Quebec Government, Investissement Québec, and new investors including Desjardins, Farm Credit Canada, Financière Agricole du Québec, Capital Financière Agricole Inc., and two private partners. The funds will be used to establish a significant vertical farm in Vaudreuil dedicated to strawberry production, capable of producing nearly a million kilograms of Fraise d’hiver strawberries annually. In the coming months, six 600 m^2 vertical farms will be added to the two existing ones. These farms will enable year-round strawberry production in Quebec, using 20-25 times less space than traditional farming, conserving 90% of irrigation water, and emitting minimal greenhouse gases. Winter Farm has also acquired Les Serres Vaudreuil, previously owned by the St-Denis family who will now oversee the operations and strawberry production. Winter Farm's vision aligns with a growing push for sustainable food autonomy in Quebec. Their innovative approach integrates greenhouse technology, aiming to foster year-round fruit and vegetable production. Authorities, including the Minister of Agriculture and the Minister of Economy, lauded Winter Farm's efforts in promoting local production and fostering a sustainable agricultural sector. From winter 2022-2023, the Fraise d’hiver strawberries will be available in more Quebec regions. These pesticide-free strawberries are currently available in select IGA grocery stores at $5.99 for an 850 ml basket.
Deal Type
Financing/InvestmentIndustry
AgricultureTransaction
$ 46,000,000Deal Status
ClosedClosing Date
13 December 2022