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Canadian vegetable group Nortera cites “food sovereignty” with capex move
Yahoo Finance· 2025-10-16 12:30
Core Insights - Nortera is investing C$28 million ($19.9 million) to enhance capacity at its Saint-Denis-sur-Richelieu facility in Quebec, emphasizing the importance of food sovereignty amid economic uncertainties and rising competition [1][2] Investment Details - The investment aims to increase the facility's capacity from six million to 10.6 million case-equivalents, thereby strengthening the competitiveness of the agricultural sector and providing economic benefits to rural communities [2] - The capital injection is intended to support local agricultural production continuity in Quebec over the coming years [2] Operational Changes - As part of this investment strategy, the company will close its Saint-Césaire plant by late January next year, resulting in the creation of 70 permanent jobs at Saint-Denis-sur-Richelieu and the loss of approximately 100 positions at Saint-Césaire [3] Company Background - Nortera, which operates 13 plants across Canada and the US, processes over 400,000 tonnes of vegetables annually and collaborates with around 540 farming partners, employing nearly 3,000 people [4] - The company rebranded from Bonduelle Americas Long Life to Nortera in 2022 after acquiring significant stakes from Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec [5]