Aliments Morehouse Canada, based in Montreal, a producer of private brand mustards and dressings across North America, has introduced a line of branded Le Grec dressings that bring the company home to its Canadian roots.
In 2000 the company was acquired by American investors and in 2005 secured a major contract with Unilever to produce a widely known brand of Dijon mustard throughout North America. Recently though, Karina Massicotte, the CEO of the company (following various roles in accounting and as the financial comptroller in her long history with the company) received full backing to become the company’s majority shareholder. To support the transaction, the Fonds régionaux de solidarité FTQ Montréal invested $1.5 million in unsecured financing.
Together, the company launched the new line of Le Grec dips and acquired the Le Grec salad dressings brand from Le Grec, a renowned restaurant in Canada for 60 years. The new products are a symbol of the company returning to Canadian ownership and will be separate from the private label business. That business will continue with Morehouse, who offers more than 100 products.
"Thanks to the Fonds régionaux de solidarité FTQ, my dream of becoming an entrepreneur become reality when I acquired the company where I have been working at for 20 years. My experience was positive throughout the process. Their expertise goes beyond business financing, extending to in-depth knowledge of the business world and of their files. This makes them a partner that encourages networking between businesspeople and gives access to numerous consultants such as Inno-Centre. Québec entrepreneurs would greatly benefit by getting to know the Fonds régionaux. I am very proud to count them as a partner," said Karina Massicotte, president and CEO, and majority shareholder of Aliments Morehouse.