G2MC, a corporate entity created in 2013, comprising Maison Corbeil and La Galerie du Meuble, is merging with Jardin de Ville, a retailer and manufacturer of high-end outdoor furnishings.
The transaction, completed in partnership with Champlain Financial Corporation, a private equity firm, will make the group one of the largest players in Quebec’s high-end furniture sector, with more than $100 million in sales projected by the end of 2016.
Proud Quebec companies united
Maison Corbeil and La Galerie du Meuble have, respectively, more than 40 and 60 years of experience in the sale of home furnishings and accessories, and Jardin de Ville has been in the outdoor furnishings sector for more than 60 years. All three retailers specialize in contemporary styles running from mid-range to high-end, stay in step with current and future trends, and have always focused on providing an enjoyable, personalized shopping experience.
“We are joining forces, combining our expertise and complementary products with the aim of offering turnkey solutions to our customers and taking Quebec’s furniture industry to a higher level,” said Éric Corbeil, co-president of Maison Corbeil.
For several years, there has been a strong local and international trend toward mergers and acquisitions. But unlike so-called horizontal mergers aimed at mercilessly eliminating competition, this partnership is based on a spirit of kinship among entrepreneurs who share the same values, in which each partner is a shareholder. Gilles Vaillancourt and the Corbeil and Bourque families are proud of their history and their Québécois identity, and are uniting to support the local economy and continue growing in Quebec and across Canada.
A thriving garden
There is clear and growing interest in patio and garden furniture here in Quebec, as in the rest of Canada and elsewhere. Increasingly experienced customers are demanding more choices in both style and quality. “Exterior design is the inseparable extension of interior design. The backyard is back in style and people are spending more time and money on renovating and decorating this living space, where we seek the same level of comfort we enjoy inside,” explained Johanne Bourque, president of Jardin de Ville.
Since 1956, Jardin de Ville has experienced phenomenal growth, building an international reputation over the years. It has won several prestigious awards, testifying to the innovative spirit, boldness and refinement that have always driven the company’s progress. Pierre Simard, president of Champlain Financial Corporation, added: “We are staying true to our strategy: identifying profitable companies, leaders in their industry, and investing to help them grow faster.”
New retail spaces for spring 2016
Maison Corbeil and Jardin de Ville will formalize their association in the spring of 2016 with a first shared space, in Montreal’s up-and-coming Griffintown neighbourhood. A new MUST boutique – a Maison Corbeil lifestyle concept focused on affordable furniture collections and accessories for the home in step with current trends – will open with an integrated Jardin de Ville space.
In Quebec City, an expansion of La Galerie du Meuble, also planned for spring 2016, will be able to accommodate both partners.
The three retailers will retain their separate banners. Their distribution centres and delivery services will be centralized in a shared 140,000 square foot warehouse.
The merger of Maison Corbeil, La Galerie du Meuble and Jardin de Ville, in collaboration with Champlain Financial Corporation, will quickly lead to significant growth synergies and produce a true leader in the high-end indoor and outdoor furniture retail sector, as well as creating new growth opportunities.
About Maison Corbeil
The Corbeil family has operated Maison Corbeil since its founding in 1973. Today, the company has nearly 175 employees. The Quebec-based retailer of contemporary home furnishings and accessories represents the biggest European and North American brands. The family company has three stores, three MUST boutiques, a Ligne Roset store with exclusive Quebec distribution rights, and an outlet store.
About Jardin de Ville
Jardin de Ville is a Quebec-based family company and a leader in the design and sale of high-end garden furniture. Its four showrooms in Quebec, as well as one in Toronto and one in Fort Myers, Florida, feature several leading international brands. In addition to being a retailer, Jardin de Ville has a factory where it makes awnings and cushions, including custom items. Jardin de Ville: the outdoor creator for 60 years, and a Quebec success story.
About La Galerie du Meuble
La Galerie du Meuble, founded in 1956, is a leader in design furniture and décor in the greater Quebec City area. The company’s concept brings together modern styles and the latest trends. Its two retail locations, with 90 employees, have distinguished themselves over the years with customized projects, an immensely popular initiative among customers. The company is still owned and operated by three partners based in the Quebec City area.
About Champlain Financial Corporation
Champlain Financial Corporation, a Canadian private holding company based in Montreal, is well known in the Quebec retail sector. Champlain was co-owner of Maison Ogilvy before its sale to the Selfridges Group in July 2011, and of Pro Hockey Life, operating in Quebec under the Sports Gilbert Rousseau and Entrepôt du Hockey banners, recently acquired by a subsidiary of Canadian Tire. Champlain’s current holdings include Kanuk, a manufacturer of high-end coats made in Montreal, and Centre Agricole JLD-Laguë, Eastern Canada’s largest network of John Deere agricultural and commercial equipment dealers.