QUEBEC’S SOURCE FOR VEGETABLES TO STAY IN QUEBEC HYDROSERRE MIRABEL ACQUIRES SERRES LEFORT

Press release

For immediate release

QUEBEC’S SOURCE FOR VEGETABLES TO STAY IN QUEBEC

HYDROSERRE MIRABEL ACQUIRES SERRES LEFORT

Mirabel, Quebec, March 3, 2020– The president of Hydroserre Mirabel, Sylvain Terrault, is proud to announce the acquisition of Les Serres Lefort. The latter had been placed under the protection of the Companies’ Creditors Arrangement Act (R.S.C., 1985, c. C-36) a few months ago. Many discussions were required with all parties involved to arrive at this beneficial conclusion. In the agro-food world and political circles, many were wondering about the future of Serres Lefort. Even the Prime Minister, François Legault, made his concerns known publicly regarding the outcome of this case. The acquisition of the company by Hydroserre Mirabel puts an end to the rumours that Quebec could lose their « vegetable pantry » to the profit of foreign interests.

Creation of the one of the largest agricultural companies in Quebec

The transaction makes way for one of the largest agricultural companies in Quebec to be created. In addition to its size, this new entity especially stands out with their diverse productivity. Besides consolidating two major trademarks for this category of products, Mirabel for lettuce and VÔG for organic cucumbers and sweet peppers, the new entity will supply Quebec‘s market gardening sector. In fact, 65% of all vegetable transplants used each year by market gardeners in Quebec are from their facilities, a unique expertise that ensures control over our source for vegetables.

100% Quebec

Both parties are pleased with the agreement concluded and the 100 % Quebec character of the new business entity. It’s a great day for both the family-run company and the greenhouse production sector in Quebec, stated the president of Hydroserre Mirabel, Sylvain Terrault, during the announcement.

« This acquisition ends any uncertainty in regard to maintaining control of Serres Lefort by a Quebec-based company. Both parties, plus our dedicated and now united staff, are turning the page and moving forward. We can finally rigorously continue to do what we love and what we’ve done best for over 30 years now: Growing transplants for market gardening in Quebec, Butter lettuce and specializing in hydroponics, in addition to greenhouse-grown organic peppers and cucumbers for the markets in Quebec, Ontario, the Maritimes and Northeastern United States. This partnership spirit that we’ve been cultivating for many years between Hydroserre Mirabel and Serres Lefort represents an exceptional asset for initiating this new beginning. We’ll be stronger than ever, » expressed Sylvain Terrault.

About Hydroserre

Founded in 1987, Hydroserre Mirabel markets hydroponic Butter lettuce in greenhouses for the Canadian and Northeast American markets. Since 2012, the range of goods broadened with speciality lettuce such as mache, watercress, curly lettuce and the Fleur de Mirabel. The company has expanded their production areas to their business model year after year. With the acquisition of Serres Lefort, they’ve reached an important step of bolstering their offering with transplants for vegetable production, in addition to organically farmed cucumbers and sweet peppers. Cultures with a direct link to the environmental values included in the current development plans. This most recent acquisition propels Hydroserre Mirabel to be one of the largest in Canada in its category with a total surface area of more than 30 hectares. For more information: www.laituesmirabel.com