Desjardins Completes $1.7B Acquisition of Guardian Capital Group

Desjardins Completes $1.7B Acquisition of Guardian Capital Group
News| March 23, 2026| Monte Stewart
Canada + Apartment Buildings

Desjardins Group has closed on its acquisition of Guardian Capital in an all-cash transaction valued at about $1.7 billion.

Now that the deal has been completed, Montreal-based Desjardins will take Toronto-headquartered Guardian Capital private.

Desjardins said the acquisition marks an important step in the organization’s development as an asset manager, improves the choice of investment solutions available to members and clients, and brings a broader range of investment products for both public and private markets under one roof. The firm acquired Guardian’s life insurance, mutual fund and investment-distribution business in 2023.

The completed deal increase Desjardins’ assets under management to $280 billion.

“Today marks a major milestone for Desjardins. Closing this transaction allows us to scale faster, reach further, and enhance the investment solutions we can offer our members, clients and investors,” said Denis Dubois, president and CEO of Desjardins Group.

“It positions us for sustainable, long-term growth while bringing in a team that fits our culture and ambition.

Guardian CEO George Mavroudis said the definitive agreement marks a “pivotal opportunity” to align with a “strong strategic partner.” Together, Desjardins and Guardian will be better equipped to realize their growth ambitions, he added.

With the transaction completed, George Mavroudis, CEO of Guardian Capital, becomes president and CEO of Dejardins Global Asset Management.

“This moment marks the beginning of an exciting new chapter,” he said. “Joining forces with Desjardins gives us the scale, resources, and shared strategic alignment to accelerate our growth ambitions and continue serving clients with excellence as their needs evolve. “By combining our businesses, we are better positioned than ever to build a global asset- management platform that stands out for its vision, innovation and client-centric approach.”

The approximate $1.7-billion purchase price equated to $68 per share.

Photo: Desjardins

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