MONTREAL – The Desjardins financial group has acquired control of Regal Confections Inc, a small Quebec candy and chocolate maker.
Financial terms of the deal, announced Wednesday, were not revealed.
Under the deal, Capital regional et co-operatif Desjardins has bought a majority stake in Regal and its chocolate division, now known and Jean-Talon Chocolate Inc.
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“We have received numerous purchase offers in recent years,” said Joseph Neufeld, Regal’s president, who will remain a minority shareholder in the food company.
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“But Desjardins showed exceptional commitment towards ensuring that the company remains in Québec and continues to grow.”
Regal is based in Laval, just north of Montreal, and sells to big box stores, most food retailers, wholesalers and chain stores.
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