Multicolore announces acquisition of minority stake by Quebecor
MONTRÉAL, Dec. 9, 2019 /CNW Telbec/ - On the heels of the eagerly anticipated unveiling of the program for its flagship Igloofest event, Multicolore is pleased to announce that Quebecor has acquired a minority interest in its assets. This strategic partnership will enable the two companies to strengthen their entertainment offerings and create genuine competition in the Montréal market.
"Multicolore is proud to partner with Quebecor, the undisputed leader in media, entertainment and culture in Québec," says Pascal Lefebvre, President and co-founder of Multicolore. "Our new partner's impact and power will help drive our development and allow us to launch major offensives in multiple markets. We will be able to bolster our status as a key player in the events industry in Québec and internationally."
"Combining the strengths and expertise of our Sports and Entertainment Group with those of Multicolore will enlarge our footprint on Québec's entertainment landscape and build a major-league alternative, creating real competition in the Montréal market," says Pierre Karl Péladeau, President and CEO of Quebecor. "Developing show and mass-event production activities represents an exciting opportunity for the entire Group, one that will position us to reach wider audiences and penetrate new markets."
"Multicolore has become a major player in the production of large-scale musical events in Québec," adds Martin Tremblay, Chief Operating Officer of Quebecor Sports and Entertainment Group. "We are very pleased to enter into this partnership in order to expand our offerings and our customer base."
Multicolore will continue to be managed and operated entirely by Pascal Lefebvre and his team. Its head office will remain on Gaspé Street in Montréal.
About Multicolore
Multicolore, which recently unveiled its new identity, has been an important player on Quebec's culture and events scene for 17 years and has chalked up a long string of successes. It is expert in the art of creating innovative, immersive, unifying experiences. Its stable includes must-attend Montréal events such as Piknic Électronik, Igloofest, the MEG Festival, the brand-new Super Fête and a production division, Matane Productions. Some 30 employees work to design, develop and produce high-quality events that entertain and bring people together, in Québec and elsewhere.
Visit our website: www.multicolore.ca
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facebook.com/multicolore.officiel
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About Quebecor
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/Quebecor
SOURCE Quebecor
