The Fonds de solidarité FTQ is investing $12 million in Quebec start-up Nolk, which dreams of becoming the next Couche-Tard, Le Journal has learned.
< p>“Couche-Tard bought a lot of small convenience stores from family businesses and medium-sized businesses to create a large group. This is the ambition that we have”, launches in the Journal Alexandre Renaud, co-founder and CEO of Nolk.
“We buy companies at a certain level of maturity, generally when they have $5 million in revenue,” he explains. Then, Nolk helps its new brands to impose themselves on the market.
Opening of a subsidiary in the United States, improvement of websites, improvement of taxation… Nolk buys 100% of the shares of companies, takes an interest in their operations and pools data to create value.
Founded in 2018, the firm has 82 employees here and abroad, including fifty in Quebec. Its head office is in Saint-Bruno-de-Montarville, on the South Shore of Montreal.
Round of $30M
In total, the Fonds de solidarité FTQ investing $12 million, Export Development Canada (EDC), $5 million, Fondaction $3.6 million. Others are part of the round, such as Panache Ventures.
Thanks to the investment, the high-end office furniture and accessories company Ergonofis and the decor and design studio Montreal's Opposite Wall will come under the fold of Nolk, which is thus expanding its portfolio of brands “having an environmental conscience”.
As of May 31, the Fonds de solidarité FTQ had net assets of $17.4 billion and Fondaction, $3.11 billion.
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Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7128