Quebecor invests in the events and culture space

A minority stake in Multicolore will see Quebecor bolster its sport and entertainment division.
Igloofest

Quebec-based culture and events company Multicolore has a new investor in media giant Quebecor.

The media company acquired a minority stake in Multicolore’s assets (the amount of the share is not stated, since Multicolore is a private company). The strategic partnership is based in helping the two companies combine their strengths in entertainment and media.

Pascal Lefebvre, co-founder and president of Multicolore, said in a statement that the partnership will enable the company to “drive our development and allow us to launch major offensives in multiple markets.” Beyond Quebec, Lefebvre is eyeing international development for Multicolore, which was established in 2002 and is known for its flagship event Igloofest, as well as Piknic Électronik, MEG Festival and the new Super Fête event. It also contains a production division, Matane Productions.

Lefebvre will continue to lead his team of 30 employees, and its head office will remain in its current location in the Roxboro area of Montreal.

Pierre Karl Péladeau, president and CEO of Quebecor, said for his company, the partnership gives Quebecor an overall larger footprint and will “create real competition in the Montreal market.”

Multicolore will join forces with Quebecor’s sports and entertainment business unit, which will help the two partners execute mass-event production activities.