MONTREAL,
May 19, 2015 /CNW Telbec/ - Quebecor
announced today that it has reached an agreement to sell
Archambault Group's retail operations to Renaud-Bray. The
transaction includes the 14 Archambault stores, the
archambault.ca website, and the English-language Paragraphe
Bookstore. The transaction is subject to Competition Bureau
approval.
"The retail sector has had to face tall challenges
because of technological change and the advent of digital
platforms, upheavals which have reshaped consumer habits,"
commented Pierre Dion, President and
CEO of Quebecor. "Today, the competition isn't the shop across the
street; it comes from major international players. Therefore, we
are pleased that this transaction will keep Archambault's retail
operations in Québec hands. Renaud-Bray has built its reputation by
developing the market for French-language cultural goods and
offering Quebecers quality products," Mr. Dion added.
"We thank all the employees who have helped make
Archambault one of the most respected companies in Québec," said
Pierre Dion.
Pending the Competition Bureau's decision, Quebecor
will continue managing all of Archambault Group's properties.
"Culture is at the core of our mission and
according to our last annual cultural report, our investment in
culture is worth a total of $498
million. It is important to note that Quebecor will remain
an important player in the book industry through its 18 general
literature publishing houses, including Les Éditions de l'Homme,
Libre Expression, L'Hexagone, VLB Éditeur, Les Éditions du Trécarré
and Les Éditions de la Bagnole, as well as its distribution arm
Messageries A.D.P., and the academic publisher CEC Publishing. In
music and concerts, Quebecor intends to remain a Québec leader
through the operations of Musicor and Select," Mr. Dion stated.
It should also be mentioned that Quebecor is deeply
committed to the community, distributing donations and sponsorships
worth nearly $30 million every year,
more than half of which goes to numerous organizations, events and
venues devoted to the arts and culture. The organizations supported
by Quebecor include the Théâtre du Rideau Vert, Espace
Félix-Leclerc, the Trois-Rivières International Poetry Festival,
Les Correspondances d'Eastman, the
Festival de musique émergente in Abitibi-Témiscamingue, Festi Jazz
international in Rimouski,
Jonquière en Musique, the Société professionnelle des auteurs et
des compositeurs du Québec (SPACQ), the Musée national des
beaux-arts du Québec and the Festival de nouveau cinéma. Quebecor
also launched and fully funds the major philanthropic project
Éléphant: The Memory of Québec Cinema, which is dedicated to
preserving Québec's cinematic heritage.
About Quebecor
Quebecor, a Canadian leader in telecommunications, entertainment,
news media and culture, is one of the best-performing integrated
communications companies in the industry. Driven by their
determination to deliver the best possible customer experience, all
of Quebecor's subsidiaries and brands are differentiated by their
high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in
Québec. It holds a 75.36% interest in Quebecor Media, which employs
close to 12,000 people in Canada.
A family business founded in 1950, Quebecor is
strongly committed to the community. Every year, it actively
supports people working with more than 400 organizations in the
vital fields of culture, health, education, the environment and
entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/QuebecorMedia
SOURCE Quebecor