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OKA cheese sold to French company, big renos for Olympic Stadium, and tax cuts for pre-packaged foods

OKA cheese sold to French company, big renos for Olympic Stadium, and tax cuts for pre-packaged foods

caleb@theequity.ca

OKA cheese brand sold to French company

The historic OKA cheese brand has been sold by Quebec cooperative Agropur to a French company, Radio-Canada reported.

Lactalis, a giant in the cheese industry, currently operates in the province and made the purchase as Agropur is selling off its fine cheese division to focus more on the protein market. 

Co-op spokesperson Guillaume Bérubé said that he expected the sale to spark reactions, but that the move was made to ensure their organization’s future in a highly competitive market. He pointed out that while the division was profitable, it only represented 2 per cent of Agropur’s revenues, and simplifying their operations was a priority.

The iconic cheese originated more than 100 years ago from the town of the same name, and was originally formulated by Trappist monks in the area. The recipe was sold to Agropur in the 1980s. 

The factories where the cheese is made, in Oka and Saint-Hyacinthe, were included in the transaction and no job losses have been announced.

Olympic Stadium has interior renos approved

The government of Quebec has approved plans to renovate the interior of the Olympic Stadium in Montreal, La Presse reported last Thursday.  Though the cost of the renovations wasn’t revealed, they are estimated to be completed in 2028. 

“We have calls for tenders to issue. We are also in discussions with potential partners. We are negotiating, so we can’t reveal our hand if we want the best price,” tourism minister Amélie Dionne told the publication. 

The renovations will reconfigure the lower seats into a rectangular shape and move them closer to the field, as well as add more “premium” options like suites and terraces, which generate more revenue. Washrooms and concessions will also be modernized. The government hopes that the upgrades would attract bigger name entertainers and sports teams to perform at the venue. The report states that MLS soccer club CF Montreal told the government that the work is a requirement for them to move to the stadium.

Quebec removes sales tax on certain items

Last Wednesday (July 15), the Quebec government lifted its sales tax (QST) on certain grocery items such as toilet paper, fruit trays and baked goods, CBC News reported. The tax of around 10 per cent works out to 50 cents on a $5 item, and annual savings are estimated at an average of $50 per household. 

Premier Christine Fréchette announced the changes back in May. Sylvain Charlebois, an academic who advised the government on the policy explained that this change targets “ready to eat” counters and some pre-packaged food. Pierre-Yves McSween, an economist and columnist has called it a “political” move in the lead up to an election which won’t make much of a difference for many people.

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OKA cheese sold to French company, big renos for Olympic Stadium, and tax cuts for pre-packaged foods

caleb@theequity.ca

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