Bonduelle in Sale Talks with Fonds de Solidarité FTQ and CDPQ for Bonduelle Americas Long Life

May 31, 2022

Willkie is advising Bonduelle in the sale of its North American canned and frozen vegetable business at an enterprise value of C$850 million.

On May 24, Willkie client the Bonduelle Group announced that it entered into exclusive negotiations with Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec (CDPQ) for the sale of a majority stake in Bonduelle Americas Long Life (BALL).

Under the terms of the sale, the investors would acquire a 65% stake in BALL based on an enterprise value of C$850 million.

The Bonduelle Group is a French company producing processed vegetables that are marketed in 100 countries. BALL, headquartered near Montreal, processes and markets canned and frozen vegetables in the United States and Canada.

Fonds de solidarité FTQ is a development capital fund of the Quebec Federation of Labor, Quebec’s largest labor union, with net assets of approximately C$18.3 billion.

Caisse de dépôt et placement du Québec is a global investment group managing funds for public retirement and insurance plans in Quebec, with net assets totaling approximately C$420 billion.

The Willkie team is led by partners A. Mark Getachew and Eduardo Fernandez and includes associates Jeffrey Himelson and Luisa Davis.