Desjardins closes $750 million Worldsource acquisitions

“I am thrilled to have closed this main transaction, which consolidates Desjardins’ place as a frontrunner in impartial distribution throughout Canada,” stated Man Cormier, president and CEO of Desjardins Group.

Cormier stated that the group had been prioritising its nationwide progress acquisition lately, and that its acquisition of Worldsource significantly strengthened its progress technique throughout Canada.

As of September 30, 2022, $23 billion price of Guardian Capital Group’s belongings underneath administration associated to the three newly acquired Worldsource entities.

“We’re happy with the companies we have now constructed over the previous three a long time and have full confidence of their persevering with success sooner or later,” stated George Mavroudis, president and CEO of Guardian Capital Group. “The sale of those companies permits us to concentrate on our core asset administration operations supported by a major capital base.”

Mavroudis beforehand stated the group had taken “nice consolation” within the considered Desjardins Group succeeding it as proprietor of the Worldsource companies. “Desjardins has the imaginative and prescient, assets and long-term dedication to supply the workers and advisors an atmosphere to thrive and attain even better ranges of success,” he had stated.

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