Parties
Company
Les Serres Royales (Royal Greenhouses)
Company
Cultures Gen V
Cultures Gen V, a leading greenhouse producer in Quebec, recently acquired Serres Royales, based in Saint-Jérôme. This transaction, the value of which was not disclosed, positions Cultures Gen V as Quebec's largest diversified greenhouse producer, expanding its crop area by 9 hectares to a total of 36 hectares. The deal enhances Cultures Gen V's commitment to providing Quebec consumers with a wide range of quality organic vegetables.
The acquisition ensures continuity for consumers of Royal Greenhouses' products, as Cultures Gen V plans to continue tomato production at the Saint-Jérôme facilities under the established Diva tomato brand. Stephan Lemieux, the former President of Les Serres Royales, will lead the tomato production division of Cultures Gen V, ensuring a seamless transition and sustained product quality.
This strategic move aligns with Cultures Gen V's objectives to promote food autonomy in Quebec through sustainable greenhouse cultivation, offering diversified and high-quality products. The merger combines the hydroponic and organic expertise of both companies, promising to enhance Quebec's organic greenhouse vegetable market.
Valérie Terrault, Marketing Director at Cultures Gen V, emphasized the acquisition's significance in reinforcing their leadership in Quebec's greenhouse industry and their strategy to develop organic and diversified vegetable production. Stephan Lemieux expressed enthusiasm about joining forces with Cultures Gen V to improve the supply of Quebec organic vegetables and contribute to Quebec's food autonomy.
Deal Type
Merger & AcquisitionIndustry
AgricultureTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date