The end of the business marriage between Canopy Growth and Serres Stéphane Bertrand in Mirabel has resulted in the layoff of just over 130 people, confirmed to the Log the company known, moreover, for its cultivation of cannabis.
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“We are not bitter, but certainly very sad for the employees we had to thank,” says Steve Bertrand, general manager of Serres Bertrand. It’s not something you wanted and anyone likes to do. That’s for sure.”
Last February, Ontario’s Canopy Growth, which has become one of the largest cannabis processors in the country, announced the closure of several facilities, a 65% reduction in production, and the layoff of 800 employees.
In the process, the company – listed on the Toronto Stock Exchange – decided to stop sourcing from Serres Vert Cannabis (SVC), a Mirabel joint venture previously owned by Canopy Growth (55%) and Serres Vert Cannabis (SVC). Bertrand (45%).
Back to tomatoes
“As the business model changed completely, decisions had to be made quickly. The most important was to put an end to our production of cannabis, and, with it, to the jobs that we had created in the field”, explains Steve Bertrand, whom Quebecers were able to know in a reality show, entitled Pot Inc.few years ago.
The latest notice of collective dismissal, published a few days ago by the Ministry of Employment and Social Solidarity, reports 2,045 layoffs in April in Quebec, including 132 at the former Serres Vert facilities in Mirabel. This number had never been communicated before.
Canopy Growth
In happier times, when the sale of cannabis was decriminalized in Canada, a photo of the Bertrand family released by Ontario’s Canopy Growth.
Since then, Serres Bertrand has completely sold its stake in the cannabis production joint venture, for an amount kept confidential. And as soon as possible, the seven hectares of greenhouses dedicated for five years to the production of cannabis will be recovered for the production of tomatoes, peppers and beans.
No regrets
Does the Bertrand family regret the adventure? All in all, Steve Bertrand answers in the negative. “It was a great experience during which we were all able to develop completely new expertise. Even though it’s over, I think we can be proud of what we’ve accomplished. »
Would he be tempted one day to resume the cultivation of cannabis? “Even if it’s not in our plans, we say never say never,” he replies after reflection. You never know what the future holds.”
A dozen workers, assigned to the production of cannabis, avoided the ax of Canopy Growth. They joined the Serres Stéphane Bertrand team, which hired them.
If all goes well, once the conversion of the cannabis greenhouses is complete, the Bertrand complex should have a total of 17 hectares of various greenhouse vegetable crops.
Canopy Growth’s stock value has fallen more than 80% year over year and nearly 45% since the start of the year. On Tuesday, its title remained stable on the Toronto Stock Exchange, closing at $1.64 a share.