The Caisse de dépôt agrees to help a Quebec billionaire family. The Quebecer’s nest egg has just invested in Avenir Global, owned by the Molson family.
This company notably includes the PR firm National, the largest of its kind in Quebec and Canada.
Andrew Molson, 56, is chairman. His shares in Molson Coors were worth $483.9 million as of Wednesday. His father, Eric Molson, owns $561.2 million.
The billionaire family is receiving help from the Caisse de dépôt etplacement du Québec (CDPQ), which is taking a minority stake in Avenir Global.
The company employs 1,000 people in 22 cities across Canada, the United States, Europe and the Middle East.
The headquarters are in Montreal, from where the national company’s operations are carried out.
“We are proud to count on the participation of CDPQ, a world-class partner that will help us achieve our growth objectives,” said Jean-Pierre Vasseur, President and CEO of Avenir Global.
The company boasts of having doubled its sales in 10 years. In the next five years, it is expected to double again through, among other things, expansion abroad.
“This investment will enable Avenir Global to realize its ambitious growth plan through acquisitions,” said Kim Thomassin, first vice president of CDPQ.
Diversification underway
The Molson family has diversified its PR activities in recent years.
Avenir Global has acquired around ten companies in the areas of marketing, data analysis, digital communications and online media buying.
The national company has an impressive client list, including federal and provincial organizations as well as Desjardins, Telus and Flying Whales, among others.
“The communication needs of companies are developing rapidly,” says Mr. Vasseur, explaining the numerous purchases in recent years.
The Caisse did not disclose the value of its investment in Avenir Global on Wednesday.
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