MONTRÉAL, Dec. 11, 2024 Power Sustainable is pleased to be celebrating a successful 2024 for its food private equity strategy, Power Sustainable Lios (PSL), including the final closing of its inaugural Fund, which invests in North American mid-market companies contributing to the sustainability transformation happening across the food value chain.
Highlights from 2024 include:
PSL's inaugural fund successfully closed in mid-2024 at $285 million with participation from leading pension funds, large corporations, family offices, and other strategic investors
PSL closed two additional investments in recent months and is now over 30% invested
PSL leadership continues to see attractive opportunities across the North American food sector, highlighting the potential for superior returns alongside positive sustainability outcomes.
"It's been an incredibly productive year, and we are eager for the opportunities that 2025 will bring," remarked Jonathan Belair, Managing Partner of Power Sustainable Lios. "We remain committed to partnering with exceptional food companies, providing the support they need to thrive as they enter their next chapter of growth and success."
The PSL portfolio now includes three leading food companies:
Food Cycle Science (FCS) designs and delivers waste solutions that enable individuals, businesses, and communities to manage their food waste conveniently and sustainably. To date, FCS has delivered over 250,000 units that are in use in over 20 countries. These solutions are both cost-effective and user-friendly, using energy-efficient technology to process food waste in homes in a manner that eliminates odours and reduces volume by up to 90%. This essential infrastructure can decrease food waste emissions by more than 75% while complementing existing systems like municipal composting and anaerobic digestion programs. This year, FCS was named one of Canada's Top Growing Companies by The Globe and Mail and ranked 7th for Clean Technology in Deloitte's 2024 Technology Fast 50TM rankings.
Private Brand Consortium is a value-added food distributor serving the private label and branded markets, with a primary focus on baby foods and snacks, plant-based beverages, aseptic broths, and meal replacement beverages. Private Brands Consortium works directly with the largest global food companies and established North American retailers, and partners with customers and suppliers to advance key sustainability priorities, including reducing packaging waste and supply chain emissions, supplying health conscious and sustainable food for all ages, and promoting the highest level of food safety standards.
GoodLeaf Farms is Canada's largest producer of vertically grown, local, sustainable, pesticide-free leafy greens and microgreens, serving grocery and foodservice customers. The Company is the front-runner in Canadian vertical farming, with a highly differentiated management team, leading food safety practices, proprietary agriculture technology, and a strong strategic partnership with McCain Foods. GoodLeaf addresses important sustainability issues related to leafy green farming and challenges within the existing supply chain in Canada. Its processes eliminate the need for pesticides, herbicides and fungicides, as well as reduces water usage by over 95%. GoodLeaf's local distribution capabilities provides consumers with fresher, better-tasting, and more nutritious produce, while contributing to significant reductions in food waste from spoilage. This year, GoodLeaf opened two new farms in Calgary, AB, and Longueuil, QC.
The execution of the PSL strategy is a core element of Power Sustainable's efforts to bring institutional private capital to this unique and significant investment opportunity. Power Sustainable CEO Bruce Heyman said: "The unique combination of investment and operational experience within our PSL team gives us great confidence in the opportunity for our initial portfolio and beyond."
About Power Sustainable Lios Power Sustainable Lios is a specialized private equity platform, supporting the sustainability transformation occurring within the food system. PSL invests in profitable and high-growth mid-market companies in North America operating across the food value chain, well positioned to prioritize and accelerate this change. They invest $25 million to $50 million per opportunity. Power Sustainable Lios is a subsidiary of Power Sustainable. Learn more at www.powersustainablelios.com.
About Power Sustainable Power Sustainable is an alternative asset manager which finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets, which aim to accelerate and scale sustainable solutions across multiple industries. Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company that focuses on financial services in North America, Europe, and Asia.
With CAD 3.9B in assets under management (as of June 30, 2024), Power Sustainable's mission is to catalyze capital towards clean global solutions. Learn more on Power Sustainable's LinkedIn and Website.
