Fonds de solidarité FTQ finalized a new $40 million financing arrangement for New Look Vision Group. With an initial investment in 2013, Fonds de solidarité FTQ reaffirmed its confidence in the company by investing the additional $40 million. The credit facility granted to New Look Vision is part of the Fonds’ plan to support Québec businesses during the COVID-19 pandemic.
“Our rapid response to the crisis was centered primarily on the safety and well-being of our employees, associates and clients,” Antoine Amiel, president and CEO of New Look Vision, said. “This additional investment is part of the financial arrangements we made early in the crisis to ensure our financial autonomy and our ability to resume external growth as early as possible.”
“New Look is well positioned for economic recovery despite the many challenges caused by these exceptional circumstances,” Daniel Hinse, vice president of investments, entertainment and consumer products for the Fonds, said. “The credit facility granted by the fund provides the company with the necessary leeway to ensure its growth.”
New Look Vision is a Canadian eye care company with a network of 393 stores.
Fonds de solidarité FTQ is a development capital fund.
