Fonds de solidarité FTQ and EDC Invest in Rustica to Encourage Local Products and Develop Export Markets

The Fonds and EDC become shareholders to support the Anjou-based company's $65-million growth plans

MONTRÉAL, April 10, 2025 /CNW/ - Founded in May 2000 by Richard Morgante and his parents, Rustica Foods began by selling fresh pizzas to supermarkets. In 2011, Vincent Giove came on board as a partner. In 2017, frozen pizzas were added to the company's product line, which today includes the Rustica and Mia brands, along with national and international private labels.

The Fonds de solidarité FTQ and Export Development Canada (EDC) are becoming Rustica shareholders to support the $65 million expansion plans of this flourishing industry leader headquartered in Montréal's Anjou borough. The funds will be used to purchase equipment and enlarge the company's facilities.

"This strategic support will enable us to accelerate our expansion plans, including automating our production lines and developing new products that meet changing consumer needs. We are proud to work with partners who share our vision of sustainable growth and continuous innovation," said Rustica Foods president Richard Morgante.

"Richard Morgante and the Rustica team have been able to adapt quickly to a changing market by adopting productivity-boosting technology. In the current context, it is more important than ever to support local agri-food processors who see market changes as opportunities for growth. The Fonds' investment in Rustica speaks to our desire to continue supporting this important sector of the Québec economy, particularly alongside partners like EDC," said Dany Pelletier, Executive Vice-President, Private Equity and Impact Investing, at the Fonds de solidarité FTQ.

"EDC is thrilled to be partnering with the Fonds de solidarité FTQ to invest in Rustica's continued success," says Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC. "With this investment, Rustica will expand their manufacturing capacity and apply innovative solutions to sustain their impressive growth. Rustica is a leading Canadian manufacturer in the agri-food sector and EDC's investment can help the company deepen their engagement in diverse export markets, where there's demand for the value and quality of Canadian products."

About Rustica Foods

Founded in 2000, Rustica Foods is a Canadian manufacturer of fresh and frozen pizzas committed to delivering innovative, superior-quality pizza experiences to consumers. With the launch of five new lines, including stuffed crust pizza and the recent introduction of Detroit style pan pizza, the company continues its tradition of providing tasty and convenient pizza meal options that families can enjoy together.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created more than 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 795,374 shareholders.

With net assets of $21.7 billion as at November 30, 2024, the Fonds supports nearly 4,000 companies through direct and indirect venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn.

SOURCE Rustica Foods