Metro/CDPQ Growth Capital Transaction Will Support Expansion Objectives
MONTREAL, April 18, 2018 /CNW Telbec/ – Metro Supply Chain Group Inc. (“Metro”) and Caisse de dépôt et placement du Québec (“la Caisse”) announced today a growth capital transaction that benefits Metro Supply Chain Group (“Metro”), a leading provider of third-party logistics services in North America and Europe. Metro will use la Caisse’s capital to pursue its growth strategy, notably to accelerate business acquisitions. The terms of the financing are not disclosed.
Metro continues to experience a period of rapid expansion growth. The company recently acquired U.S. direct-to-consumer fulfillment pioneer National Fulfillment Services, and launched Metro To Home, a national last-mile delivery solution for manufacturers and retailers of appliances and other large and/or heavy items.
Metro CEO Chiko Nanji is very pleased to be working with CDPQ. “Metro has always been focused on growing in directions that add value to our offerings and keep our customers competitive in a changing world,” he explains. “This arrangement provides available capital in support of that objective. Having the right financial partners to support our growth is critical and CDPQ is regarded as a high-calibre global investor.”
“This is a really valuable resource for our company at this time,” says Metro CFO Marc D’Amour. “As we continue to pursue opportunities that align with our vision for the company, this arrangement allows Metro to respond quickly to opportunities.”
Within the context of an industry in technological transition, notably as same-day delivery becomes the standard for mainstream online retail fulfillment in metropolitan areas, Metro remains competitive by adopting innovative and highly efficient peer-to-peer delivery methods that seamlessly fulfill client expectations.
“La Caisse wants to participate in digitizing industries and companies, and the logistics sector is a big part of where this is happening,” states Christian Dubé, Executive Vice-president, Québec, at la Caisse. “We are pleased to support Metro’s future growth, especially given the crucial role that it plays in modernizing traditional supply chains and distribution networks, along with effectively addressing the needs of the growing e-commerce sector.”
Over 40 years ago, Metro began as a warehousing solutions provider in the Quebec marketplace. It is now the largest privately held and Canadian-owned third-party logistics company. By spanning the length of the traditional and digital supply chain, encompassing transportation, warehousing and related services, Metro offers an integrated solution that can fulfill complex and challenging distribution needs.
ABOUT METRO SUPPLY CHAIN GROUP
The Metro Supply Chain Group of Companies is a Canadian-owned leading provider of thirdparty logistics (3PL) services across North America and Europe with more than 6,000 associates on the team. It supplies customized services to all industries with a significant presence in the consumer-packaged goods, retail, automotive, fashion and e-commerce sectors. The Group manages over 12 million sq. ft. of strategically located warehousing and co-pack centers and has transportation solutions that include managed transport services, dedicated fleet management and global time critical logistics response. For more information, visit metroscg.com.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2017, it held $298.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
SOURCE Caisse de dépôt et placement du Québec
For further information: YANN LANGLAIS PLANTE, Advisor, Media Relations, Caisse de dépôt et placement du Québec, +1 514-847-5493, firstname.lastname@example.org; TOM PRITTIE, Metro Supply Chain Group, +1 416-605-8874, tprittie@MetroSCG.com