Savoura to acquire majority of assets of Productions Horticoles Demers

Canadian-based Savoura announced that it has entered into an agreement in principle to acquire the majority of the assets of Productions Horticoles Demers, following a Court-supervised investor solicitation process. The transaction remains subject to customary approvals, including those of regulatory authorities and the Court.

This transaction is intended to ensure the continuity of greenhouse operations in several key regions of Québec, preserve leading-edge horticultural expertise, and support quality jobs.

Productions Horticoles Demers expanded its facilities in 2021 from a 10-hectare facility with the incorporation of a 15-hectare greenhouse in Lévis, Quebec. Savoura has been growing tomatoes and strawberries in Québec for more than three decades, currently operates more than 96 acres (39 hectares), and is one of the largest greenhouse producers of organic tomatoes in North America. Its most recent expansion was in 2022.

Over the coming weeks, Savoura will begin a structured and gradual transition process in collaboration with on-site teams in order to stabilize operations and identify short-term priorities.

"This agreement aligns with our vision for sustainable growth and food autonomy,” said Luc Prévost, president of Savoura. We are committed to preserving and growing the expertise developed by the teams at Productions Horticoles Demers, in a spirit of respect, collaboration, and excellence.”