Latest news with #Sofina
Global News
19-06-2025
- Global News
Sofina Foods to pay $330K after Edmonton worker trapped in hot smokehouse dies
See more sharing options Send this page to someone via email Share this item on Twitter Share this item via WhatsApp Share this item on Facebook A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in a smokehouse and died. Ontario-based Sofina Foods Inc. was directed by a judge on Thursday to put the money toward a workplace training program. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The decision comes a day after Sofina pleaded guilty to one workplace safety violation while the remaining 25 other charges against the company were withdrawn. Sofina was charged after 32-year-old Samir Subedi died in March 2023. Court heard he had gone to check the temperature of the gas-fired smokehouse, which had been loaded the night before with meat. Due to problems with the door's safety mechanisms, Subedi became trapped in the smokehouse as the temperature soared to 92 C, and he died of heat exposure. Story continues below advertisement — More to come…
Winnipeg Free Press
19-06-2025
- Winnipeg Free Press
Company to pay $330K after Edmonton worker trapped in smokehouse, dies in 92 C heat
EDMONTON – A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in a smokehouse and died. Ontario-based Sofina Foods Inc. was directed by a judge today to put the money toward a workplace training program. The decision comes a day after Sofina pleaded guilty to one workplace safety violation while the remaining 25 other charges against the company were withdrawn. Sofina was charged after 32-year-old Samir Subedi died in March 2023. Court heard he had gone to check the temperature of the gas-fired smokehouse, which had been loaded the night before with meat. Due to problems with the door's safety mechanisms, Subedi became trapped in the smokehouse as the temperature soared to 92 C, and he died of heat exposure. More coming.
Yahoo
05-06-2025
- Business
- Yahoo
Digital investment platform Scalable Capital lands $175m funding
Scalable Capital, a German digital investment platform, has secured €155m ($175m) in a funding round led by Sofina and Noteus Partners. Current investors Balderton Capital, Tencent, and HV Capital also contributed to the fundraise, bringing the total investment in Scalable Capital to over €470m (more than $535m). Sofina managing director Maxence Tombeur said: 'Noteus is proud to support Scalable Capital as it continues to democratise retail investing in Germany and across Europe. 'With its vertically integrated investment offering and highly engaged customer base, the company is well positioned for long-term success. Late last year, Scalable Capital launched the European Investor Exchange, designed specifically for retail investors in Europe. The Scalable Broker recently introduced private equity investments through ELTIFs (European Long-Term Investment Fund), allowing eligible clients to invest alongside institutional investors such as insurance companies and pension funds. From this summer, the company will offer kids' accounts, enabling parents to invest in their children's financial future through the Scalable Broker. Scalable Capital founder and co-CEO Florian Prucker said: 'Low-cost, broadly diversified ETFs, free access to financial knowledge, stock exchanges tailored for retail investors, and technology driven investment platforms like Scalable Capital have fundamentally improved access to capital markets for millions of retail investors. 'To accelerate this development, we will continue to invest in our fully verticalised platform with the additional capital.' Since its inception in 2015, Scalable Capital has offered retail investors access to cost-effective investment options, including ETFs, stocks, funds, bonds, cryptocurrencies, derivatives, and private equity. In February, the company announced a partnership with BlackRock to offer eligible investors access to private equity. "Digital investment platform Scalable Capital lands $175m funding" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Scalable Capital raises $175m to enhance retail investment access in Europe
Digital investment platform Scalable Capital has raised €155m ($175m) in a funding round led by Sofina, an investment company, and Noteus Partners, a pan-European technology investor focused on growth equity. Existing investors Balderton Capital, Tencent, and HV Capital also participated, bringing the total investment in Scalable Capital to over €470m (more than $535m). Sofina managing director Maxence Tombeur said: 'Noteus is proud to support Scalable Capital as it continues to democratise retail investing in Germany and across Europe. 'With its vertically integrated investment offering and highly engaged customer base, the company is well positioned for long-term success. Late last year, Scalable Capital launched the European Investor Exchange, designed specifically for retail investors in Europe. The Scalable Broker recently introduced private equity investments through ELTIFs (European Long-Term Investment Fund), allowing eligible clients to invest alongside institutional investors such as insurance companies and pension funds. From this summer, Scalable will also offer kids' accounts, enabling parents to invest in their children's financial future through the Scalable Broker. Scalable Capital founder and co-CEO Florian Prucker said: 'Low-cost, broadly diversified ETFs, free access to financial knowledge, stock exchanges tailored for retail investors, and technology driven investment platforms like Scalable Capital have fundamentally improved access to capital markets for millions of retail investors. 'To accelerate this development, we will continue to invest in our fully verticalised platform with the additional capital.' Since its inception in 2015, Scalable Capital has offered retail investors access to cost-effective investment options, including ETFs, stocks, funds, bonds, cryptocurrencies, derivatives, and private equity. The company provides clients with competitive interest rates on cash through partner banks and instant access to low-cost securities-backed loans. In February this year, Scalable Capital announced that it is transforming digital investing in Germany by partnering with BlackRock to offer eligible investors access to private equity. "Scalable Capital raises $175m to enhance retail investment access in Europe" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
15-05-2025
- Business
- Cision Canada
Exceldor Cooperative and Sofina Foods sign asset purchase agreement Français
LÉVIS, QC, May 15, 2025 /CNW/ - Exceldor Cooperative (Exceldor) and Sofina Foods Inc. (Sofina) today announced the signing of an asset purchase agreement under which Sofina will acquire the assets of Exceldor. The proposed transaction is subject to approval by Exceldor's members and holders of investment shares, who will vote during the cooperative's upcoming Annual General Meeting on June 5, 2025. The result of a rigorous and thoughtful process, this agreement represents a strategic milestone in Exceldor's history. With highly complementary operations, the transaction will ensure the continuity of Exceldor's existing activities, strengthen its national presence, and accelerate the growth of brands such as Exceldor, Lacroix, Granny's, Butterball and Saha Halal - across Canada. Thanks to the operational synergies and complementary geographical markets created through this acquisition, Exceldor and Sofina will have laid the foundation for a new and ambitious chapter - focused on growth, long-term value creation, and the reinforcement of Canada's food sovereignty. "We are entering this next chapter with great enthusiasm. This agreement is a unique opportunity that will enable us to continue our activities in an increasingly competitive environment. The proposed acquisition by Sofina ensures the long-term legacy of generations of producers and employees who built the Exceldor Cooperative. It gives us the tools to strengthen our operations and create new opportunities for our producers and employees. It is also important to note that consumers will continue to enjoy high-quality Exceldor-branded products in Quebec and Granny's-branded products in Manitoba - raised and processed in their respective provinces," said René Proulx, President and CEO of Exceldor cooperative. "Since our founding 30 years ago, Sofina has steadily grown to become one of Canada's leading food processors, with an uncompromising commitment to operational excellence. This transaction reflects our desire to continue investing in the Canadian poultry industry, in plants and capabilities, to better serve Canadian consumers from coast to coast. Exceldor is a well-established organization with whom we share a common culture of excellence, discipline and integrity. We look forward to working with Exceldor's team to further elevate its flagship brands in Quebec and across Canada," said Michael Latifi, Founder, Chairman and CEO, Sofina Foods Inc. Following approval by Exceldor's members and holders of investment shares, the transaction will also be subject to approval by the Competition Bureau. Exceldor engaged BCF Business Law as its legal advisor, PwC Corporate Finance in Québec as its corporate financial advisor, and EY as its tax advisor. Sofina engaged Stikeman Elliott LLP as its legal advisor, PwC as its financial and tax advisor, and WSP as its environmental advisor. About Exceldor Cooperative Exceldor Cooperative, owned by approximately 330 member-producers in Quebec, Ontario and Manitoba, generates more than $1.4 billion in revenue and employs over 3,700 people. Headquartered in Lévis, Quebec, its operations are spread across facilities in Saint-Anselme, Saint-Damase, Saint-Hyacinthe, Saint-Bruno-de-Montarville, Beloeil, and Saint-Cuthbert in Quebec, as well as Hanover in Ontario, and Winnipeg and Blumenort in Manitoba. The cooperative is also co-owner of Unidindon in Quebec and Blumenort Hatchery in Manitoba. About Sofina Foods Inc. Sofina Foods Inc., headquartered in Markham, Ontario, is a privately held Canadian company dedicated to providing consumers with great-tasting, high-quality food products, generating more than $6.5B CAD in revenue. Globally, the company and its wholly owned subsidiaries operate over 40 locations and employ more than 13,000 people across Canada, the United Kingdom, Ireland, Germany, and France - making it one of Canada's largest food companies. Sofina Foods is a leading Canadian and European manufacturer of primary and further-processed protein products for retail and foodservice. In Canada, the company offers a wide portfolio of branded and private-label pork, beef, fish, turkey, and chicken products. Its Canadian branded product family includes Cuddy®, Lilydale®, Janes®, Mastro®, San Daniele®, Fletcher's®, and Vienna®. In Europe, its pork division is one of the largest processors and suppliers of products in the UK and Ireland, and its seafood division is the UK's leading supplier of chilled and frozen seafood products. Notable European brands include Young's Seafood®, Karro®, Bloors®, and Greenland Seafood™.
