In the eye of Quebec Inc.: Garda boss is worth $3.6 billion

In this column, we provide an overview of insider transactions and investments in Quebec companies.

Crétier buys his company

The founder of GardaWorld, Stéphan Crétier, will soon have a personal fortune of US$2.6 billion (CA$3.6 billion) following a transaction that will allow him to regain control of the Montreal security company. A resident of Dubai, Mr. Crétier, 61, will own 58% of GardaWorld alongside other company executives and foreign investment firms. Its stake in GardaWorld is valued at US$2.2 billion (C$3.05 billion), to which must be added other investments totaling US$400 million (C$555 million), which includes vineyards in California and France, revealed Bloomberg. Stéphan Crétier was a billionaire (in Canadian dollars) since 2019. Quebec invested $300 million in GardaWorld in 2022.

Fierce shot

Fund manager Fiera Capital has had a roller coaster week. The Montreal firm’s shares gained 11% on Thursday following the publication of good financial results. But on Friday, Fiera completely erased this gain on the stock market after announcing the loss of a major mandate from the Alberta firm Canoe Financial, which will reduce its assets under management by $5.5 billion. Fiera’s stock still remains up more than 60% compared to the start of 2024.

Big gain for a CN VP

The chief financial officer of Canadian National, Ghislain Houle, made a gain of more than $380,000 by exercising stock options in the Montreal company last week. Two CN directors have also stocked up on company shares recently: Jo-ann dePass Olsovsky bought more than $278,000 and Margaret McKenzie for $122,000.

Cordon Bleu invests in Montreal

Aliments Ouimet-Cordon Bleu, which is celebrating its 90th anniversary, has just invested $5 million in its Montreal plant and plans to inject an additional $12 million over the next 24 months. These equipment investments are financed by CIBC as well as several Quebec and federal government entities. Known for its brands Cordon Bleu, Clark, Paris Pâté and Esta, Aliments Ouimet recently made a breakthrough in the United States.

A TFI manager cashes in

David Saperstein, chief financial officer of TFI International, made a profit of nearly $325,000 by exercising options in the Montreal trucking company this week. Mr. Saperstein’s transaction coincided with the stock market surge of more than 10% that TFI experienced on Wednesday following the election of Donald Trump to the American presidency. Investors predict companies will move forward shipments of goods in hopes of evading Republican-promised tariffs, which would benefit the transportation industry, at least in the short term.

O2 Commerce buys in Montana

The Quebec e-commerce agency O2 Commerce has just acquired the Montana firm ZaneRay. The latter has several clients in the outdoor sector, including Black Diamond, Yeti Cycles and Jackson Hole. For its part, O2 serves companies such as Groupe CH, BRP, Air Liquide and Arctery’x. O2 was founded in 2006 by Charles Guimont.

Il you turn Gildan

Gildan’s head of information systems, Jason DeHaan, sold more than $1 million worth of shares in the Montreal clothing manufacturer this week. The American manager has worked at Gildan’s Montreal headquarters since 2017, after a stint at Abercrombie & Fitch. Gildan stock has risen more than 55% since the start of 2024.