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MONTREAL, Nov. 1, 2013 /CNW Telbec/ - Following their discussions
regarding a future commercial partnership, Groupe BMR and La Coop
fédérée announce today that they have entered into a commercial
agreement under which La Coop fédérée, through its Unimat banner, is
acquiring a minority interest in Groupe BMR.
"Our company is pleased with this new partnership with La Coop fédérée,
a leader in Québec's economy for 92 years", said Yves Gagnon, President
and CEO of Groupe BMR.
Through this association, the two companies will offer some 360 retail
locations to consumers and contractors in Québec, Ontario and the
"Groupe BMR's expertise in the renovation industry is well established.
The strength of its brand and the trust of its customers represent
major advantages from which we are sure our 100,000 members will
greatly benefit", explained Claude Lafleur, CEO of La Coop fédérée.
This agreement represents good news for the construction and renovation
industry in Québec and in Canada. The critical mass and the synergies
that will result from this association are sure to contribute to the
development of businesses both in Québec and in Canada. Furthermore,
the purchasing power and economies of scale will benefit all consumers.
Given the current economic uncertainty, the arrival of foreign
competitors, in particular from the United States, and the highly
competitive level required to survive in the home renovation center and
hardware store industry, today's announcement is highly positive.
About Groupe BMR
Founded in 1967, BMR is a group of independent dealers that operate some
180 home renovation centers and hardware stores in Québec, Ontario, the
Maritime Provinces and the Saint-Pierre et Miquelon islands. The yearly
retail sales of BMR members are estimated at over 1.3 billion dollars
and some 5,000 employees work in bannered stores. BMR is the second
leading banner in Québec's renovation industry. www.bmr.co
About La Coop fédérée
Founded in 1922, La Coop fédérée is the largest agri-food company in
Quebec, and ranks amongst the 100 largest co-operatives and mutual
societies in the world, across all sectors. It is owned by over 100,000
members grouped into 102 cooperatives located in several Canadian
provinces. La Coop fédérée is present throughout the agri-food chain
and, as well as being a wholesaler, it also provides agricultural
producers with all the goods and services they require for their
farming operations. The network has five brands: Elite and La Coop
(animal and crop production, grain marketing), Unimat (hardware and
farm machinery), Sonic (energy) and Olymel (meat processing). La Coop
fédérée employs over 9,500 people with sales totalling over $5 billion.
Including its affiliated cooperatives, La Coop fédérée's network
employs close to 15,500 persons and has a consolidated sales figure of
$7.8 billion. www.lacoop.coop