Each week we provide an overview of insider trading, investing in local businesses and news from public companies.
Charles Pellerin reinvests in Calfrac
Photo from Pellerin Potvin Gagnon’s website
Quebec businessman Charles Pellerin (here) bought nearly $375,000 worth of stock in oil services company Calfrac in late December. He now owns about $3.5 million. Charles Pellerin has served on the Alberta firm’s board of directors since last year. He is a partner in the accounting firm Pellerin Potvin Gagnon and President of the Tigres de Victoriaville (ice hockey team). He also sits on the board of Clarke, whose CEO, George Armoyan, is Calfrac’s largest shareholder. Clarke notably owns the Rivière-du-Loup-Saint-Siméon ferry.
A local SME swallowed up by an American giant
Florida group Acosta, through its subsidiary Core Foodservice, announced this week the acquisition of TTS Marketing & Sales in Baie-D’Urfé for an undisclosed sum. Founded in 1973, TTS is Eastern Canada’s largest grocery retailer. TTS customers include Ferrero, Dare, Dr. Oetker and O’Sole Mio.
Attractive prize for a Dollarama admin
Photo from the BRP website
A Dollarama director, Nicholas Nomicos, made a profit of more than $825,000 last month by exercising stock options at the Montreal retailer. Mr. Nomikos has served on the company’s board of directors since 2004. He is a former partner at Bain Capital, a Boston firm that was once a major shareholder in Dollarama.
Regence Shoes makes an acquisition
Photo from the Acton brand’s Facebook page
Chaussures Régence de Québec, which specializes in work boots, has just acquired another company in the same sector: Paragone from Saint-Augustin-de-Desmaures. Previously owned by brothers Claude and Philippe Bernadet, Paragone designs and distributes boots and clothing for the Nat’s and Pilote et Filles brands. Régence was founded by Henri Bergeron in 1979 and is now owned by Alexandre Bergeron, his grandson. Regence Shoes notably owns the Acton boot brand.
TFI executive bags large
TFI International’s chief financial officer, David Saperstein, received nearly $590,000 when he exercised options on the Quebec trucking company in late December. Mr. Saperstein has been with TFI since 2016. TFI’s stock is up more than 30% over the past six months.
She buys Bell
Photo from the BCE website
Jennifer Tory, who has served on Bell Canada’s board of directors since April 2021, bought nearly $225,000 worth of stock in the telecom giant in early December. Ms. Tory, a former Royal Bank executive, is the sister of Toronto Mayor John Tory. Interesting Fact: His father, John A. Tory, was a longtime director of Rogers Communications, which would become a serious competitor to Bell. His brother John held senior positions at Rogers in the 1990s, and Bell stock has fallen about 12% over the past 52 weeks.