Portrait of a predecessor: Evelyn Trempe of L’Amour du Pain


Ten years after acquiring the L’Amour du Pain bakery, Evelyn Trempe was happy to pass the torch to Jordan Di Corpo. She supported the young entrepreneur through the transition process, an experience that proved to be much more rewarding than she could have imagined.

The seller of L'Amour du Pain standing outside in front of her business.

In 2014, after working for 25 years in the sportswear industry as co-founder of the Orage, Lolë, and Paradox brands, Evelyn Trempe acquired the L’Amour du Pain bakery in Boucherville. “I really liked the idea of making people happy with good bread,” she explains. In 10 years, she’s opened three other branches and a 7,000-square-foot factory, in addition to developing 75 points of sale. At the time, she didn’t realize how demanding the baking industry could be. She was ready for a change when Jordan Di Corpo, a finance professional in his 20s, approached her to ask if she was interested in selling her business.

“Out of respect for the people who built the bakery and my teams who truly care about L’Amour du Pain, I didn’t want to sell to just anyone,” says the businesswoman. Even though he had never been an entrepreneur and had no experience in baking, Jordan made a good impression on her. “He had worked in mergers and acquisitions and wanted to restructure the company to take it to the next level. I could see that he had human values and that he would take good care of the teams. I thought he had a good balance between his head and his heart.”  

Teaming up with the next generation

Evelyn felt confident when she saw that Jordan was serious enough to obtain financing from National Bank. “One of the conditions was that I work with him for at least a year to show him the ins and outs of the business,” she explains. The financial institution also required the seller to remain a shareholder, so Evelyn retained 15% of the shares, as did her business partner Annie Lemieux, who still holds 5%. “The Bank understood that by staying involved in the business, I’d make sure my investment didn’t lose all its value,” she points out.

 

 

Good to know

Your account manager can support you through every step of your business transfer to ensure the necessary conditions are in place for a successful transaction. They can:

  • Advise you on ways to reduce the tax implications of the sale and maximize your personal wealth.
  • Put you in touch with various specialists to assess the value of your business, conduct due diligence, define terms that are acceptable to both parties, and meet legal requirements.
  • Help you define your objectives and develop your succession plan.
  • Propose financing solutions tailored to your and your successor’s needs.

During this transition, Evelyn introduced Jordan to the business of entrepreneurship and the intricacies of artisanal baking. She taught him how to run promotions and advertising campaigns, prepared him for the holiday season, and shared her successes and failures with him. She was quickly won over by her successor’s enthusiasm. “I became super motivated again. Together, we managed to find new clients and, in less than eight months, we acquired two new branches!”

Reassuring staff

Evelyn was aware that these major changes could make her teams feel insecure. “I did a lot of work behind the scenes to reassure them. I knew that a few key people had the ability to influence others. I talked to them about Jordan’s expertise, his values, and his desire to grow the business,” explains the seller. Ten years earlier, she’d had a similar experience when she bought the artisan bakery from an investment group. “The corporate culture at the time was very masculine and hierarchical. I had to learn quickly and work hard to gain people’s trust. Jordan, on the other hand, was lucky enough to be able to count on my help!”

Pro tip

If you’ve spent part of your life building a business, you probably hope to find a successor who can preserve your vision. It’s in your best interest to choose someone who shares your values and whose personality is compatible with yours. Some management skills are essential, while others can be learned. A good rapport is the basis for a successful transfer of knowledge.

Playing the role of mentor

After several decades as an entrepreneur – she co-founded her first business while still a student – Evelyn now has time to travel. “I just got back from Chile. I went trekking in Patagonia before heading to the desert,” she says. Her love for bread and entrepreneurship are still very much part of her life. She’s also developed a passion for mentoring. “Jordan and I talk every week. If he has questions or finds a new location for a bakery, he calls me.” Her greatest source of pride? “Selling L’Amour du Pain to a young person,” she replies without hesitation. “There’s something beautiful about seeing the next generation grow our businesses.”

Are you thinking about selling or acquiring a business?