Fonds de solidarité FTQ Invests $3 Million to Back the Growth of Candiac-Based Zinda Products

CANDIAC, QC, Dec. 11, 2015 /CNW Telbec/ - In 1996, Majid Jamaleddine visited Québec for the first time. Three years later, he founded Zinda Products in Candiac, and in 2005 the entrepreneur was awarded the Prix d'excellence à l'exportation bioalimentaire du Québec by the Ministère de l'Agriculture, des Pêcheries et de l'Alimentation. Today, Zinda is the only couscous manufacturer in Canada and has become an industry leader in North America.

The Fonds de solidarité FTQ is investing $3 million in this promising Québec agrifood company to allow it to purchase and install a production line for pearl couscous, which Zinda is currently importing.

In 2008, Mr. Jamaleddine brought his three daughters Zineb, Yousra and Houda onboard with a view to gradually transferring knowledge, management, and ownership to them.

« The continued growth of Zinda over recent years demonstrates Majid Jamaleddine's strong knowledge of the agrifood sector and export markets. With a strong succession plan in place, the future is bright for Zinda and its employees », said Janie Béïque, the Fonds' Senior Vice-President of Industries, Entertainment and Consumer Goods.

"With the Canada-European Union Agreement, Canada will have access to one of the largest and richest markets in the world: 500 million consumers in 28 member states. Thanks to our competitive edge, we're ready to conquer this massive market," added Majid Jamaleddine, President and CEO of Zinda Products.

Depending on the season and shifts, the company employs between 65 and 70 people, including about 40 in production. Some 15 additional positions are expected to be opened over the next 18 to 24 months.   

Zinda specializes in the production of a large variety of regular and flavoured couscous. About 25% of its production is organic. Its products are sold under the Zinda brand in Canada and Casablanca Gardens in the United States. The company also manufactures products under private label.

Zinda has succeeded in setting itself apart from the competition by offering a wide range of innovative products and using Canadian 100% durum semolina.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With 610,605 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.FondsFTQ.com.

SOURCE Fonds de solidarité FTQ

Image with caption: "Zineb, Yousra, Majid and Houda Jamaleddine of Zinda Products. (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20151211_C5077_PHOTO_EN_562628.jpg

For media representatives only: Mr. Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: [phone], Mobile : [phone], Email: [email protected]; Ms. Zineb Jamaleddine, Produits Zinda Canada Inc., Phone : [phone], ext. 269, Courriel : [email protected]; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663