MONTRÉAL, Dec. 11,
2024 Power Sustainable is pleased to be celebrating a
successful 2024 for its food private equity strategy, Power
Sustainable Lios (PSL), including the final closing of its
inaugural Fund, which invests in North American mid-market
companies contributing to the sustainability transformation
happening across the food value chain.
Highlights from 2024 include:
- PSL's inaugural fund successfully closed in mid-2024 at
$285 million with participation from
leading pension funds, large corporations, family offices, and
other strategic investors
- PSL closed two additional investments in recent months and is
now over 30% invested
- PSL leadership continues to see attractive opportunities across
the North American food sector, highlighting the potential for
superior returns alongside positive sustainability outcomes.
"It's been an incredibly productive year, and we are eager for
the opportunities that 2025 will bring," remarked Jonathan Belair, Managing Partner of Power
Sustainable Lios. "We remain committed to partnering with
exceptional food companies, providing the support they need to
thrive as they enter their next chapter of growth and success."
The PSL portfolio now includes three leading food companies:
Food Cycle Science (FCS) designs and
delivers waste solutions that enable individuals, businesses, and
communities to manage their food waste conveniently and
sustainably. To date, FCS has delivered over 250,000 units that are
in use in over 20 countries. These solutions are both
cost-effective and user-friendly, using energy-efficient technology
to process food waste in homes in a manner that eliminates odours
and reduces volume by up to 90%. This essential infrastructure can
decrease food waste emissions by more than 75% while complementing
existing systems like municipal composting and anaerobic digestion
programs. This year, FCS was named one of Canada's Top Growing Companies by The
Globe and Mail and ranked 7th for Clean Technology in
Deloitte's 2024 Technology Fast 50TM rankings.
Private Brand
Consortium is a value-added food distributor
serving the private label and branded markets, with a primary focus
on baby foods and snacks, plant-based beverages, aseptic broths,
and meal replacement beverages. Private Brands Consortium works
directly with the largest global food companies and established
North American retailers, and partners with customers and suppliers
to advance key sustainability priorities, including reducing
packaging waste and supply chain emissions, supplying health
conscious and sustainable food for all ages, and promoting the
highest level of food safety standards.
GoodLeaf Farms is Canada's largest producer of vertically grown,
local, sustainable, pesticide-free leafy greens and microgreens,
serving grocery and foodservice customers. The Company is the
front-runner in Canadian vertical farming, with a highly
differentiated management team, leading food safety practices,
proprietary agriculture technology, and a strong strategic
partnership with McCain Foods. GoodLeaf addresses important
sustainability issues related to leafy green farming and challenges
within the existing supply chain in Canada. Its processes eliminate the need for
pesticides, herbicides and fungicides, as well as reduces water
usage by over 95%. GoodLeaf's local distribution capabilities
provides consumers with fresher, better-tasting, and more
nutritious produce, while contributing to significant reductions in
food waste from spoilage. This year, GoodLeaf opened two new farms
in Calgary, AB, and Longueuil, QC.
The execution of the PSL strategy is a core element of Power
Sustainable's efforts to bring institutional private capital to
this unique and significant investment opportunity. Power
Sustainable CEO Bruce Heyman said:
"The unique combination of investment and operational experience
within our PSL team gives us great confidence in the opportunity
for our initial portfolio and beyond."
About Power Sustainable Lios
Power Sustainable Lios is
a specialized private equity platform, supporting the
sustainability transformation occurring within the food system. PSL
invests in profitable and high-growth mid-market companies in
North America operating across the
food value chain, well positioned to prioritize and accelerate this
change. They invest $25 million to
$50 million per opportunity. Power
Sustainable Lios is a subsidiary of Power Sustainable. Learn more
at www.powersustainablelios.com.
About Power Sustainable
Power Sustainable is an
alternative asset manager which finances companies and projects
that aim for both competitive returns and positive sustainability
outcomes. The firm offers institutional investors exposure to
alternative assets, which aim to accelerate and scale sustainable
solutions across multiple industries. Power Sustainable is a
subsidiary of Power Corporation of Canada (TSX: POW), an international management
and holding company that focuses on financial services in
North America, Europe, and Asia.
With CAD 3.9B in assets under
management (as of June 30, 2024),
Power Sustainable's mission is to catalyze capital towards clean
global solutions. Learn more on Power Sustainable's
LinkedIn and Website.
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SOURCE Power Sustainable