Avec sa soixantaine de millions de pieds cubes de congélateurs, Congebec reçoit annuellement dans ses installations l’équivalent de 2 milliards de dollars en nourriture, de la dinde aux canneberges en passant par certains produits de boulangerie. Et avec l’arrivée récente de Banque Nationale Placements privés comme actionnaire minoritaire, l’entreprise québécoise a l’intention de prendre de l’expansion à l’étranger.
L’entrée en scène de ce nouvel actionnaire signifie qu’« on est là pour rester », a affirmé Nicholas-P. Pedneault, président et chef de la direction de Congebec, au cours d’une entrevue accordée à La Presse par visioconférence. L’annonce concernant la participation de Banque Nationale Placements privés a été faite par voie de communiqué.
« Il y a une grosse guerre de consolidation dans mon industrie, c’est beaucoup plus facile aujourd’hui de vendre que de continuer, constate M. Pedneault. On a fait le choix de continuer, mais on voulait être mieux outillés sur le plan du capital pour faire ça. C’est pour ça qu’on fait cette transaction, pour avoir des partenaires qui vont nous accompagner dans notre croissance. »
« On regarde la possibilité de sortir du pays et de déployer notre expertise ailleurs », indique-t-il, sans toutefois donner de détails sur les pays où il souhaite étendre ses tentacules. « On est probablement parmi les meilleurs au monde pour gérer le type d’équipement qu’on opère. »
L’entreprise, dont le siège social est à Québec, entrepose dans ses énormes congélateurs des fruits, des légumes, de la viande, de la crème glacée et même certains produits de boulangerie, par exemple. « Il n’y a pas grand-chose à l’épicerie qui ne passe pas par nos congélateurs. »
« Le transformateur de canneberges veut transformer toute l’année, mais la récolte dure trois semaines, explique le PDG de l’entreprise. Il ne peut pas transformer tout ça en trois semaines, il faut préalablement qu’il les congèle. C’est nous qui allons les congeler. »
Même scénario pour la dinde, ajoute-t-il. Pour s’assurer qu’une majorité de consommateurs puissent en déposer une au centre de la table à Noël, période de pointe dans la demande pour cette volaille, la transformation doit commencer au mois de janvier. « Il n’y a personne qui pourrait produire suffisamment de dinde, quelques semaines avant Noël ». Il en va de même pour les bûches qu’on doit aussi congeler puisqu’il est impossible d’attendre au début du mois de décembre pour confectionner le traditionnel dessert.
Congebec compte 12 installations réparties dans cinq provinces canadiennes. Une treizième, actuellement en construction à Mascouche, s’ajoutera à la liste l’an prochain.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Guelph, Ontario –March 22, 2022, March 28, 2022 (GLOBE NEWSWIRE) — Skyline Commercial REIT, a privately owned and managed portfolio of industrial properties across Canada, has signed a 20-year lease with Congebec Inc. (Congebec), a Quebec-based cold and multi-temperature storage, warehousing, and distribution firm, for tenancy at 3601 Avenue de la Gare, Mascouche, Quebec.
The 260,000 square foot property, currently under development by Skyline Commercial REIT and its partner, Rosefellow, will house a 219,000 square foot cold storage facility to be occupied by Congebec.
The property, which is to be located close to Provincial Highways 25 and 640, is slated for completion in Q3 2023.
“The cold storage sector is expanding rapidly—by 2027, cold storage construction is projected to reach US$18.6 billion globally, or an increase of 14 percent each year, according to Emergen research,” said Michael Mackenzie, President, Skyline Commercial REIT.
“Skyline Commercial REIT aims to capitalize on this growth through its development in Mascouche and its established relationship with Congebec. The REIT’s relationship with Congebec Inc. began in 2018 with the acquisition of eight cold storage facilities located across Canada tenanted by Congebec Inc.; we are excited to grow this relationship and increase the REIT’s investment in the cold storage sector, which continues to enjoy solid growth globally. This project results from the REIT’s investment in a property development strategy that commenced in 2020. The strategy aims to deliver a pipeline of modern, well-located logistics and warehousing assets in key markets for the portfolio.”
“This first foray into the North Shore of Montreal marks an important step for Rosefellow,” said Mike Jager, co-founder of Rosefellow.
“We chose Mascouche because it is a proactive city in terms of development. We are proud to erect an industrial building for a client as prestigious as Congebec with the help of a partner such as Skyline.”
“We are thrilled to welcome Rosefellow and Skyline’s multi-tenant industrial project, and about the arrival of Congebec to the Centroparc,” said Guillaume Tremblay, Mayor of Mascouche.
“Mascouche becomes the first city on the North Shore to have been selected by Rosefellow and its partners for this major investment. This once again demonstrates the attractiveness of our industrial park.”
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For information on Skyline Commercial REIT’s active developments, visit: https://www.skylinecommercialreit.ca/new-property-development-and-partnerships/
(1) “Raw materials shortfall is squeezing the cold storage sector.” JLL, https://www.jll.ca/en/trends-and-insights/investor/raw-materials-shortfall-is-squeezing-the-cold-storage-sector. Accessed December 8 2021.
About Skyline Commercial REIT
Skyline Commercial REIT (the “REIT”) is a privately owned and managed portfolio of commercial properties, focused on acquiring industrial and logistics-centred properties along major highway corridors and transportation routes in Canada.
Skyline Commercial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
Skyline Commercial REIT is committed to providing outstanding places to do business and superior service to its tenants, while surfacing value with a goal to deliver stable returns to its investors.
To learn more about Skyline Commercial REIT, please visit SkylineCommercialREIT.ca.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.
Skyline Commercial REIT is operated and managed by Skyline Group Of Companies.
For media inquiries, please contact:
Jeff Stirling
Vice President, Corporate Marketing & Communications
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x243
About Congebec
Congebec unifies the food world through its multi-temperature food processing, distribution and logistics services. Its twelve facilities are strategically located in Quebec, Ontario, Manitoba, Saskatchewan and Alberta and total more than 57 million cubic feet. Committed to food safety, Congebec is a value-added leader in the Canadian market for the food industry.
About Rosefellow
Rosefellow is a leading real estate developer based in Montreal with over 14 million square feet of industrial and multi-residential development projects located in the provinces of Québec and Ontario. Rosefellow designs, builds and manages properties that constantly push the boundaries of sustainable innovation. Their successes include Le Cent-Onze, a residential rental project located in Ville St-Laurent, which is expected to be delivered in the summer 2022, as well as numerous industrial buildings in the Montreal region and in Ontario.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Congebec, Quebec’s largest multi-temperature food processing, distribution, and logistics company, has signed a long-term lease at a development that will become the company’s first major cold storage facility located on Montreal’s North Shore. This crucial infrastructure project, which will be developed through a joint venture partnership between Rosefellow, a real estate developer, and Skyline Commercial REIT, will be located in Mascouche, and is expected to increase Quebec’s food autonomy.
This $70-million development will include a new 219,000-sf cold storage facility that will enable food producers in the region to store inventories closer to their operations, creating efficiencies within the supply chain.
Construction of the building, which will begin this spring, is expected to be completed in 2023. The facility will be equipped with an innovative CO2 based refrigeration system.
“This project represents a bit of a homecoming for us. As a key link between food production and consumption, we want to continue to support this industry in which our company got its start. The pandemic and the supply issues of the past few months have enabled us to refocus on our customers’ needs right here at home. This new space will contribute to the growth of the region’s food chain and to the food autonomy of Quebec as a whole,” said Nicholas-P. Pedneault, Congebec’s president and CEO.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Congebec, spécialiste de la manutention et de la logistique de produits alimentaires, se prépare à des années de croissance avec l’ouverture d’un entrepôt frigorifique dans la couronne nord, son premier investissement d’envergure dans la région montréalaise depuis des lustres.
Avec ses partenaires Rosefellow et la fonds de placement immobilier Skyline, Congebec, de Québec, se fait construire un congélateur d’une valeur de 70 millions dans le parc industriel de Mascouche, à l’angle de la rue Louis-Blériot et de l’avenue de la Gare.
« C’est un acte de foi, confie à La Presse le président et chef de la direction Nicholas-P. Pedneault. Ça fait longtemps qu’on n’avait pas fait d’investissement majeur au Québec. Ça fait presque 20 ans qu’on n’avait pas fait d’investissement dans la région de Montréal. On n’est pas les seuls à ne pas y avoir investi. Montréal avait pris un peu retard dans sa croissance dans la transformation agroalimentaire en comparaison à Toronto, observe-t-il.
Illustration du futur entrepôt de Mascouche.
M. Pedneault croit que la politique alimentaire poursuivie par le gouvernement québécois pave la voie à une belle croissance. « L’autonomie alimentaire signifie que les distributeurs et producteurs vont vouloir constituer des stocks stratégiques proches de leurs marchés importants », mentionne-t-il.
« On veut que l’industrie agroalimentaire continue de croître au Québec, continue l’homme d’affaires. L’industrie a besoin d’avoir accès à notre espace pour congeler et stocker les produits.
Méconnue, l’entreprise familiale a été créée en 1974 et exploite, en incluant celui de Mascouche, 13 congélateurs industriels, dont 7 au Québec. Elle emploiera à terme 600 personnes.
Présente dans cinq provinces, Congebec a des revenus annuels supérieurs à 100 millions. Chaque année, l’équivalent de plus de 2 milliards de dollars en produits alimentaires passe par ses congélateurs.
Le nouvel immeuble de 20 345 mètres carrés (219 000 pieds carrés) sera refroidi au CO2, plus sécuritaire, selon la société, que les systèmes à base d’ammoniac. L’entrepôt restera la propriété du groupe ontarien Skyline Commercial REIT et du promoteur Rosefellow, de Montréal.
Depuis 2018, Congebec a cédé la propriété des murs de ses congélateurs à Skyline. La spécialiste de la logistique préfère se concentrer sur son métier de manutentionnaire.
« Cette première incursion dans la couronne nord de Montréal marque une étape importante pour Rosefellow a dit, dans un communiqué, Mike Jager, son cofondateur. Notre choix s’est porté vers Mascouche, car il s’agit d’une ville proactive en matière de développement. »
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Le fournisseur de services réfrigérés québécois Congebec s’offre un congélateur de 70 millions $ sur la Rive-Nord de Montréal.
En cette période où l’autonomie alimentaire gagne en popularité, Congebec souhaite se positionner rapidement pour pouvoir mieux soutenir les entreprises du secteur alimentaire situées dans la couronne nord de Montréal qui prévoient augmenter leur production ces prochaines années.
Les travaux pour l’immeuble de 219 000 pieds carrés dans le parc industriel Mascouche commenceront ce printemps. Ce chantier devait être initialement lancé en 2021. L’ouverture est prévue en 2023.
«Les deux dernières années ont amené beaucoup de volatilité dans les prix de la construction. Là, nous avons réussi à asseoir le projet […] Il y a aussi eu l’engouement dans le secteur de l’immobilier. Cela a rendu très difficile la disponibilité des terrains», a expliqué Nicholas-P. Pedneault.
«Entre 50 et 100 emplois» seront créés grâce à ce projet et il devrait entraîner des retombées annuelles de 500 millions $, chiffre la direction qui n’est pas épargnée par les défis de main-d’œuvre.
«Par le passé, mon objectif premier était de créer des emplois. Aujourd’hui, nous avons choisi l’angle de la sécurité alimentaire pour nous convaincre, car il y a trop d’emplois disponibles», a confié Nicholas-P. Pedneault.
Ce nouvel édifice sera notamment muni d’un système de réfrigération plus écoresponsable. Il fonctionnera au CO2 au lieu de l’ammoniac.
Ces dernières années, le gouvernement Legault a souligné à plusieurs reprises l’importance d’une meilleure autonomie alimentaire au Québec.
Une première en 10 ans
Pour Congebec, il s’agira d’un premier investissement majeur au Québec en plus d’une décennie. En 2020, quatre dirigeants, dont le président et chef de la direction, avaient racheté les parts des autres partenaires, soit Desjardins Capital, Investissement Québec et Fondaction CSN.
Le montant de la transaction n’avait alors pas été dévoilé. Congebec, dont le siège social est à Québec, a un chiffre d’affaires d’environ 100 millions $.
Ce sont pour environ 2 milliards $ en produits alimentaires qui passent par les congélateurs de l’entreprise chaque année avant de se retrouver, entre autres, sur les tablettes ou dans les frigos des supermarchés.
Congebec, qui compte 500 salariés, a également des antennes en Ontario, au Manitoba, en Saskatchewan et en Alberta. Le nouveau congélateur, le treizième du groupe, sera réalisé en partenariat avec Rosefellow et Skyline Commercial. Ces derniers seront les propriétaires de l’immeuble.
Pour les prochaines années, Congebec souhaite notamment prendre de l’expansion du côté des États-Unis. Le groupe agrandit aussi, présentement, ses installations à Toronto de 70 000 pieds carrés.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
In order to build its presence in Toronto and increase its pan-Canadian development in temperature-controlled food storage and distribution, Congebec Inc. is proud to announce the construction of a large expansion of its Mississauga facility. This expansion will allow the existing facility’s storage space to grow from 170,000 sq ft to 232,600 sq ft, increasing its storage capacity by 12,000 pallets. Congebec Inc.’s network will reaffirm its 9th position as the largest temperature-controlled storage company in North America, and 13th worldwide.
In early 2018, Congebec became North America’s very first company with the latest generation of central refrigeration systems from Frick, a leading manufacturer for which CIMCO is the exclusive distributor in Canada and the United States. In an industry where the issue of ammonia concentration is crucial to employee safety and a smaller environment footprint, this low charge central system (LCCS), has made it possible to reduce ammonia concentrations by 90% compared with conventional systems. Having worked with the LCCS for 3 years now, Congebec’s team has mastered this new technology, and become experts in this unique refrigeration system that will also be used in the new construction.
To further assist in saving energy and reducing power usage, this facility will be equipped with power conditioning; an electric energy saving system to filter and optimize power quality and maximize energy savings. This will allow the Mississauga facility to avoid blackouts and will provide Congebec with a more reliable operation. This world-class freezer/cooler design will feature market leading physical attributes starting with its efficient building envelop that reduces heat islands with its unique white roof.
To protect new equipment and increase power quality, capacity banks will be installed on our transformer. Additionally, a dehumidification system will be installed for the office space, therefore increasing employee well-being. By creating a green space following the construction of the expansion, Congebec will have achieved numerous environmentally friendly initiatives to balance out its carbon footprint and reverse construction emissions.
“We aim to continue our mission to connect food to the world by working to feature innovative and energy efficient operations in our facilities, therefore aligning with our values and our sustainable development initiatives. Our modern construction in Toronto will ensure high-quality and safe food products to our customers and to consumers,” said Nicholas Pedneault, President & CEO of Congebec.
The LCC system
Frick’s central refrigeration system offers a complete low-charge solution with compressors, evaporators, condensers, and controls. It allows greater performance in addition to remote distributed condensing. The system significantly reduces ammonia charge (1.5-3 lb/TR) and posts strong investment returns. Its water supply via open circuit reduces bacterial growth. It also provides multiple heat recovery possibilities.
The system designed by Frick is be the biggest built on an industrial scale to date. “Congebec is the only Canadian company that has one,” said Peter Reeve, Contract Sales, CIMCO Refrigeration. “Because of this, Congebec is a valuable technology showcase that enables us to develop the North American market efficiently.”
About Congebec Inc.
Congebec is a Canadian based supplier of multi-temperature storage, value added & distribution services supporting the food, retail and CPG industry. Committed to food safety, Congebec is a leader in the Canadian marketplace and is ranked 9th in North America. With more than 500 employees and over 45 years of experience, the company operates 12 modern facilities totaling more than 60 Million cubic feet. These facilities are strategically located in Quebec, Ontario, Manitoba, Saskatchewan & Alberta.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
MISSISSAUGA, ON, May 3, 2021 /CNW/ – In order to build its presence in Toronto and increase its pan-Canadian development in temperature-controlled food storage and distribution, Congebec Inc. is proud to announce the construction of a large expansion of its Mississauga facility. This expansion will allow the existing facility’s storage space to grow from 170,000 sq ft to 232,600 sq ft, increasing its storage capacity by 12,000 pallets. Congebec Inc.’s network will reaffirm its 9th position as the largest temperature-controlled storage company in North America, and 13th worldwide.
Launching construction: 2nd phase
for Congebec’s cold storage facility
In early 2018, Congebec became North America’s very first company with the latest generation of central refrigeration systems from Frick, a leading manufacturer for which CIMCO is the exclusive distributor in Canada and the United States. In an industry where the issue of ammonia concentration is crucial to employee safety and a smaller environment footprint, this low charge central system (LCCS), has made it possible to reduce ammonia concentrations by 90% compared with conventional systems. Having worked with the LCCS for 3 years now, Congebec’s team has mastered this new technology, and become experts in this unique refrigeration system that will also be used in the new construction.
To further assist in saving energy and reducing power usage, this facility will be equipped with power conditioning; an electric energy saving system to filter and optimize power quality and maximize energy savings. This will allow the Mississauga facility to avoid blackouts and will provide Congebec with a more reliable operation. This world-class freezer/cooler design will feature market leading physical attributes starting with its efficient building envelop that reduces heat islands with its unique white roof.
To protect new equipment and increase power quality, capacity banks will be installed on our transformer. Additionally, a dehumidification system will be installed for the office space, therefore increasing employee well-being. By creating a green space following the construction of the expansion, Congebec will have achieved numerous environmentally friendly initiatives to balance out its carbon footprint and reverse construction emissions.
“We aim to continue our mission to connect food to the world by working to feature innovative and energy efficient operations in our facilities, therefore aligning with our values and our sustainable development initiatives. Our modern construction in Toronto will ensure high-quality and safe food products to our customers and to consumers,” said Nicholas Pedneault, President & CEO of Congebec.
The LCC system
Frick’s central refrigeration system offers a complete low-charge solution with compressors, evaporators, condensers, and controls. It allows greater performance in addition to remote distributed condensing. The system significantly reduces ammonia charge (1.5-3 lb/TR) and posts strong investment returns. Its water supply via open circuit reduces bacterial growth. It also provides multiple heat recovery possibilities.
The system designed by Frick is be the biggest built on an industrial scale to date. “Congebec is the only Canadian company that has one,” said Peter Reeve, Contract Sales, CIMCO Refrigeration. “Because of this, Congebec is a valuable technology showcase that enables us to develop the North American market efficiently.”
About Congebec Inc.
Congebec is a Canadian based supplier of multi-temperature storage, value added & distribution services supporting the food, retail and CPG industry. Committed to food safety, Congebec is a leader in the Canadian marketplace and is ranked 9th in North America. With more than 500 employees and over 45 years of experience, the company operates 12 modern facilities totaling more than 60 Million cubic feet. These facilities are strategically located in Quebec, Ontario, Manitoba, Saskatchewan & Alberta.
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SOURCE Congebec Inc.
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Quebec City, Canada – Nicholas P. Pedneault, President and CEO of Congebec, is proud to announce that he has become the majority shareholder of the company he’s been managing since 2015. Three members of his management team will join him as co-shareholders: Guy Clairmont, Vice-President of Finance; Richard Patenaude, Vice-President of Sales and Operations; France Pomerleau, Vice-President of Human Capital, Regulatory Compliance and Communications. All three are key partners in Congebec’s growth and future success.
To complete the transaction, Congebec turned to Desjardins Business, which partnered with Desjardins Capital, Investissement Québec and Fondaction to act as the company’s lenders.
Close to $2 billion of food handled each year
“I want to thank Desjardins Capital, Investissement Québec and Fondaction for their support in 2015, which made it possible for Congebec to be transferred to the next generation,” said Nicholas P. Pedneault. “Each year, close to $2 billion of food passes through our facilities. In an industry that’s seeing more and more international consolidation, it’s important to offer the food industry an independent Canadian supply chain with logistics expertise and nation-wide service. Our company has grown significantly in the last 5 years. The success we’ve seen is thanks in large part to our 500 employees who embody our mission: to provide innovative multi-temperature fully integrated logistics solutions that ensure food safety and quality for consumers.”
“Desjardins Capital has stood by Congebec since 2004,” said Luc Ménard, Chief Operating Officer of Desjardins Capital. “We’re a patient investor. And we’ve been proud to support the growth of this SME, which has become a Canadian benchmark, doubling its sales over 5 years and propelled by its outside-Quebec operations. The buying back of share capital by the company’s very own senior management is very much in line with our business model, which strives to support homegrown businesses and keep them in Quebec. We’re also very pleased that the board of directors we set up within Congebec in 2015 is still in effect today. To us, ensuring quality governance is just as important as providing financial backing.”
“In keeping with the expanded mandate received from the Québec government, Investissement Québec aims to facilitate successful business transfers by offering buyers and sellers the support and assistance they need. This transaction is a prime example of how we strive to do that,” said Guy LeBlanc, President and CEO of Investissement Québec. “As a long-standing partner of Congebec, Investissement Québec is proud to enable this Québec jewel to pursue its growth, here and across Canada, while backing a business transfer that can inspire an entire generation of entrepreneurs. We wish Congebec’s managers and employees the best of luck with their growth initiatives.”
“The food industry depends on high-functioning supply chains. A company like Congebec is an essential player in this field, which is why it made sense for Fondaction to help it grow and take part in its transfer to a new generation of management. We’ve been supporting agri-food entrepreneurs for a long time, so we were honoured to contribute to the success of this Quebec flagship,” said Claire Bisson, Deputy Chief Investment Officer at Fondaction.
Congebec and COVID-19
When help was needed during the COVID-19 crisis, there was an overwhelming response from Congebec teams, who volunteered with food banks across Canada to support communities in need. “Congebec really stood out as a key partner in preventing food waste during the pandemic and providing assistance to those in need,” said Jean-François Archambault, General Director and founder of La Tablée des Chefs. “Thanks to food donations and support from Quebec’s chefs, we prepared over 400,000 meals. This food is stored and refrigerated at Congebec facilities. From there it’s distributed to partnering food banks in the Quebec City and Montreal areas. Without Congebec’s support, this initiative wouldn’t have been possible.”
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About Congebec
Established in Quebec City in 1974, Congebec is a Canadian supplier of multi-temperature food storage and value-added distribution services supporting the food, retail, and consumer packaged goods industries. Committed to food safety, Congebec is a leader in the Canadian marketplace and is ranked 9th in North America. With more than 500 employees and 45 years of experience, the company operates 13 modern facilities, totalling more than 57 million cubic feet. These facilities are strategically located in Quebec, Ontario, Manitoba, Saskatchewan and Alberta.
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About Desjardins Capital
For nearly 45 years, Desjardins Capital has fulfilled its mission to promote, support and nurture Quebec entrepreneurs. With assets of $2.6 billion, Desjardins Capital helps contribute to the longevity of approximately 530 companies, cooperatives and funds in various sectors across Quebec. In addition to helping create and maintain more than 80,000 jobs, this subsidiary of Desjardins Group offers entrepreneurs access to a large business network that supports business growth. For more information, visit the Desjardins Capital website or LinkedIn page.
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About Investissement Québec
Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
« Si cette transaction n’avait pas eu lieu en 2015, Congebec serait probablement géré, aujourd’hui, par des intérêts étrangers! », répond le président et chef de la direction de l’entreprise, dont l’actionnariat est maintenant composé que de membres du comité de direction.
Il y a cinq ans, le fournisseur de services réfrigérés pour le secteur alimentaire recevait une offre d’achat non sollicitée alors que le fondateur de la compagnie, Laurier Pedneault, souhaitait transférer son entreprise de 400 travailleurs à son fils Nicholas-P.Pedneault.
Devant cette offensive d’un joueur canadien, qui appartient aujourd’hui à des Américains, fiston avait mis les bouchées doubles pour dénicher les capitaux nécessaires pour bloquer cette transaction.
Nicholas-P.Pedneault obtenait, quant à lui, 2 % des actions de la compagnie qui avait un chiffre d’affaires aux alentours de 60 millions $.
Récemment, quatre hauts dirigeants, dont le président et chef de la direction, Nicholas-P.Pedneault, ont fait une offre pour racheter l’ensemble des parts des partenaires externes.
Le quatuor est maintenant seul aux commandes de l’entreprise de Québec avec un chiffre d’affaires de près de 100 millions $. Le montant de la transaction n’a pas été dévoilé.
«On peut dire que nous sommes maintenant à 90 % et demi Québécois. J’ai un actionnaire qui est Franco-Ontarien», répond au Journal avec humour Nicholas-P.Pedneault, qui est maintenant actionnaire majoritaire.
Fondé en 1974, Congebec est un fournisseur d’entreposage à température multiple qui offre également des services de distribution pour l’industrie alimentaire. L’entreprise possède 13 installations, soit au Québec, en Ontario, au Manitoba, en Saskatchewan et en Alberta. Chaque année, près de 2 milliards $ de nourriture transigent à travers ces établissements.
Plan de croissance
Au cours des prochaines semaines, les nouveaux propriétaires travailleront à pondre le prochain plan de croissance de 5 ans de l’organisation. D’ici décembre, les travaux pour un nouvel entrepôt frigorifique d’environ 250 000 pieds carrés devraient commencer sur la Rive-Nord de Montréal.
La facture du projet pourrait dépasser les 60 millions $. Entre 50 et 100 emplois seront créés. L’ouverture est prévue pour 2021.
«Avec la consolidation dans notre secteur, il faut être très imaginatif pour la suite des événements. Avec mon équipe, nous allons être créatifs», promet le président, qui ne prévoit pas, pour le moment, de percée aux États-Unis.
Entre 2015 et 2020, Congebec a consolidé sa présence en Ontario et dans l’Ouest canadien. L’entreprise a aussi avalé la compagnie Shamrock Cold Storage, mis sur pied une division de transport et ouvert un entrepôt à Toronto.
Du côté de Desjardins Capital, la direction se réjouit de voir que Congebec est demeuré une entreprise d’ici. Desjardins Capital, Investissement Québec et Fondaction CSN ont agi à titre de prêteurs dans la transaction.
«Nous sommes très fiers d’avoir pu intercepter une entreprise qui était trop grosse en 2015 pour être rachetée par l’équipe de direction. Aujourd’hui la business va bien et on va continuer de les aider», indique pour sa part Luc Ménard, chef de l’exploitation de Desjardins Capital.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
Skyline Commercial REIT closed the purchase of nine temperature-controlled facilities in Quebec and Western Canada on Thursday afternoon from Quebec City-based Congebec Logistics for $190 million.
The facilities total 1.3 million square feet and are located in the Montreal area (with locations on the island of Montreal, Ste. Julie and Boucherville), Quebec City (three locations), Calgary, Saskatoon and Winnipeg.
“We really like the sector,” Michael Mackenzie, president of Skyline Commercial REIT, told RENX in an exclusive interview. Frozen food is “seeing double-digit annual growth right now. It’s virtually recession-proof in nature.”
Mackenzie notes that in moving into the cold-storage sector, “we’re actually not being pioneers here.” For example, Vancouver-based VersaCold is jointly owned by Toronto-based private equity real estate investment firm KingSett Capital and Montreal-based Ivanhoé Cambridge, the real estate subsidiary of institutional fund manager Caisse de depot et placement du Québec.
Congebec to manage facilities
Mackenzie adds Skyline Commercial likes Congebec and its management team, which will continue to manage the buildings. “For all intents and purposes, (Congebec) will do most of the heavy lifting. Our management teams are more on the supervisory level.”
The buildings Skyline Commercial is acquiring are primarily purpose-built freezer facilities designed to manage cold temperatures, with insulated ceilings and walls and glycol in the floors. The buildings have clear heights of around 38 feet.
Founded in 1974, Congebec is the largest provider of refrigerated services in Quebec, the second-largest in Canada and the 11th-largest in North America, Mackenzie says.
“These are relationship-type deals, because we’re going to be living together for 20 years,” Mackenzie says of Congebec. “That was part of our decision-making process because we think that this is a company that we can grow with.”
Skyline Commercial is buying the buildings at below replacement cost and the properties are “mission-critical” to tenants. “We felt it was a good investment for us,” says Mackenzie.
Skyline’s largest acquisition in recent years
It’s the largest transaction for Skyline Commercial REIT in the last three or four years.
They facilities are fully leased and all are on long-term leases. “For our purpose, they’re all single tenants.” One of the Quebec City buildings is leased directly by the grocer Metro on a long-term lease and is the only building of the nine not leased back to Congébec.
The facilities in Ste. Julie and Calgary – which was built in 2007 and has just been expanded significantly – are the largest at 200,000 square feet, while several are in the range of 100,000 to 130,000 square feet.
While there are no current plans to make changes to the properties, “there are some opportunities to expand facilities in certain markets and we’ll be looking at that” with Congebec, Mackenzie says.
The Congebec deal was brought to market by Colliers International last April. “I think that there were a number of regional bids, but I think we were the only ones that stepped up to do a national bid,” he says.
With the transaction, Skyline Commercial will have about 99 properties under management with an approximate portfolio value of $750 million.
“We’re looking for long-term, stable income in predominantly newer facilities, specifically for the purpose of providing a long-term stable income for our unitholders,” Mackenzie says.
REIT’s portfolio has evolved
The REIT’s portfolio has evolved over the years, he says: “When it began, it was primarily a multi-tenant product. We’ve been slowly reducing that focus to move on to larger single-tenant, higher-covenant type deals with longer-term income.”
Mackenzie says 2018 has been an “exceptional” year for Skyline Commercial. “Our debt is well-positioned as we’re watching interest rates rise,” he says. “We managed to take advantage of the market that was available to us over the last couple of years on the credit side.”
He adds the REIT is “well positioned to weather any changes.”
As it now stands, “our biggest challenge is continuing to find these kinds of acquisitions which you have to pounce on when the opportunity arises.”
The Skyline Group of Companies was founded in 1999 and has five investment products: Skyline Commercial REIT, Skyline Apartment REIT, Skyline Retail REIT, Skyline Clean Energy Fund and Skyline Mortgage Investment Trust. Together, they manage approximately $3.5 billion in assets.
Congebec, founded in Quebec City in 1974, is celebrating its 50th anniversary, and to mark the occasion, simultaneous celebrations have been held at each of its refrigeration centers across Canada.
Congebec, a Canadian leader in the logistics and management of refrigerated and frozen food products, is celebrating a historic milestone this year: its 50th anniversary. To mark this exceptional event, simultaneous celebrations took place in every Congebec freezer across Canada, bringing employees together for a moment of recognition and collective pride.
Congebec University is a 3-year internal training program offered to Congebec employees who express an interest and are selected as candidates. Revive the graduation of the 2nd cohort!
On October 3, 2024, the Centre de Promotion des Investissements en Côte d’Ivoire (CEPICI) received a delegation from the Global Cold Chain Alliance (GCCA) as part of a cold chain assessment mission.
