LES HERBES GOURMANDES: $11.7M IN FINANCING FROM BDC AND FCC TO DOUBLE PRODUCTION AREA

Press release

For immediate release

Les Herbes Gourmandes: $11.7M in financing from BDC and FCC to double production area

SAINT-NORBERT, October 19, 2021 – Fresh herb producers Les Herbes Gourmandes (Serres Coulombe) of Saint-Norbert, Quebec received $11.7 million in non-dilutive financing from BDC and Farm Credit Canada (FCC). The company will use these funds in particular to diversify its product offering and significantly increase its production capacity. Since 2014, Les Herbes Gourmandes has become a real leader in the growing market for fresh herbs in conventional and organic cultivation.

Under the innovative leadership of the president and co-founder of Herbes Gourmandes, Charles Verdy, the company will use these funds specifically to build 14 new greenhouses that will double its production area to two hectares. This investment responds to the increased demand for fresh herbs in Quebec and outside the province, particularly from existing customers such as Metro, Loblaws and Sobeys. It is also part of an ambitious vision of longer-term expansion. Les Herbes Gourmandes chose to do business with BDC and FCC mainly because of the flexibility of the financing offered and the relationship they have had with them for the past seven years.

“It is with immense pride that our team of more than 40 employees, through this investment, contributes to the objectives of food autonomy of Quebec society by producing potted herbs of the highest quality using eco-responsible cultivation methods,” said Charles Verdy, President, Les Herbes Gourmandes. “It is also in a spirit of partnership with BDC and FCC over the past seven years that we have ensured the growth of our company and that of an entire evolving industry. My team and I are filled with enthusiasm and excitement to initiate this new phase constituting an important step in order to meet the growing demand for our greenhouse products.”

The transactions were led by Paul Béland of FCC, Guy Bénard of BDC as well as Mark Ohannessian of BDC Capital in Laval. “Consumer preferences are evolving. Les Herbes Gourmandes is uniquely positioned to respond to the growing interest in fresh food products that are grown locally,” explained Mr. Ohannessian. “This funding will allow them to implement their ambitious growth strategy to supply a growing number of customers with a wider range of products.”

“FCC is proud to support an innovative company like Les Herbes Gourmandes which values inputs from Canadian agriculture and which is initiating an important shift to meet consumer demand for fresh local herbs,” said Paul Béland, Senior Relationship Manager at FCC. “The current situation reminds us of the crucial role our agricultural producers and food processors play in feeding Canadians and the world every day.”

About Les Herbes Gourmandes

Located in Saint-Norbert in the Lanaudière region, Les Herbes Gourmandes has been growing potted herbs for the Quebec market since 2014. The company grows 26 varieties of herbs using conventional cultivation methods and, since 2019, nine organic varieties that are Ecocert certified, all non-GMO and distributed in Quebec. A local workforce of more than 40 people ensures the company’s day-to-day operations, and its activities meet the food autonomy objectives of the Government of Quebec. www.herbesgourmandes.com

About BDC

BDC is the bank for Canadian entrepreneurs. It provides access to financing, as well as advisory services to help Canadian businesses grow and succeed. Its investment arm, BDC Capital, offers a wide range of risk capital solutions. For more than 75 years, BDC’s only purpose has been to support entrepreneurs in all industries and at all stages of growth. For more information and to consult more than 1,000 free tools, articles and entrepreneurs’ stories, visit bdc.ca.

About FCC

FCC is Canada’s leading agriculture and food lender, with a healthy loan portfolio of more than $41 billion. Our employees are dedicated to the future of Canadian agriculture and food. We provide flexible, competitively priced financing, management software, information and knowledge specifically designed for the agriculture and food industry. As a self-sustaining Crown corporation, we provide an appropriate return to our shareholder, and reinvest our profits back into the industry and communities we serve. For more information, visit fcc.ca.