MONTREAL — Desjardins Group is acquiring global investment management company Guardian Capital Group Ltd. for around $1.67 billion or $68 per share, the co-operative financial group said on Thursday.
The publicly traded company will be taken private, the release said.
The deal, which is subject to court, shareholder and regulatory approvals, is expected to close in the first quarter of 2026.
Desjardins says the deal will bring together the strengths of Desjardins Global Asset Management and Guardian to form an organization with $280 billion in assets.
"By combining our strengths with Guardian, we are building a leading platform with the scale, capabilities, and reach to serve investors in Canada and around the world," said Desjardins Group president and chief executive Guy Cormier, in a statement.
Desjardins said this deal builds on a series of strategic moves to expand its growth in the Canadian financial landscape.
It follows the acquisition of Guardian's life insurance, mutual fund and investment distribution networks, which closed in 2023.
Over the last two years, the company has also acquired Worldsource and the Insurance Company of Prince Edward Island.
Guardian's chief executive George Mavroudis will take the role of CEO of the combined business, and Nicolas Richard, the president and chief operating officer of Desjardins Global Asset Management, will join that executive team.
"This transaction marks a pivotal opportunity for Guardian to align with a strong strategic partner — one with exceptional financial resources and an even longer distinguished history in financial services," Mavroudis said in a statement.
This report by The Canadian Press was first published Aug. 28, 2025.
Companies in this story: (TSX: GCG)
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