Portrait of a new owner: Virginie Théberge from Gagnon Frères 

10 October 2025 by National Bank
Portrait of Virginie Théberge for the article on taking over the Gagnon Frères business

Virginie Théberge spent years working for the Gagnon Frères furniture store chain before joining its management team. Now that she’s CEO of the century-old family business, she’s already thinking about her succession and has begun passing on her knowledge to staff.

In this article:

Getting to know the company internally

How do you rejuvenate a century-old company? That was the question Virginie Théberge, CEO of Gagnon Frères, asked herself in 2007 when she joined the furniture store chain as marketing director. The task was a delicate one – especially since the family business, run by her husband Frédéric Gagnon, had been part of the Saguenay–Lac-Saint-Jean landscape for three generations. “I was able to revamp the brand image and product selection to bring them up to date. It was a wonderful assignment. I got caught up in it, and over the years I gradually took on more responsibilities within the organization,” says Virginie, who holds an MBA from the Université du Québec à Chicoutimi.

A decade later, Frédéric asked her if she’d be willing to take over the family business. “I said, ‘Yes, on the condition that I’m surrounded by the right team.’” While the takeover process took about five years, the learning curve was steep with the opening of four branches, a 100,000-square-foot mega distribution centre and a new transactional site. In 2023, Virginie officially became CEO of this medium-sized company, which has a revenue of nearly $40 million.

Picto of a light bulb with a money symbol

Good to know: Experts recommend allowing three to five years for the transfer of a business and more than five years if it’s an agricultural business. This transition period will allow you to acquire knowledge, mull over your decision and ensure the business’s long-term viability by avoiding the turbulence of a hasty process.

→ Check out our article on taking over a family business

Choosing reliable partners

As planned, the businesswoman assembled a team she trusted. In addition to Frédéric, who remained chairman of the board, she appointed three shareholders: Annie Desgagné as the purchasing manager, Cédrick Dupont as the vice-president of finance and Philippe Verreault as the director of operations and logistics. “They’re curious people who know how the company works and like to add their own strategic touch,” she explains.

National Bank also supported her during this transition. The financial institution has partnered with Gagnon Frères since its founding in 1904 by Louis and Jos Gagnon, Frédéric’s grandfather, so this wasn’t the first handover it had seen. “It’s reassuring to have a bank that believes in us,” says Virginie. “In addition to financing, they offer us strategic support that gives us perspective on our medium- and long-term decisions.”

→ Check out our article on management buyouts

Taking the time to train the next generation

For now, Virginie has no plans to sell her business. But when she appoints members of her staff to management positions, it’s not only for the support, but also to prepare for the future. “Training people who’ll be able to develop the business and protect its sustainability is a process that takes years,” she points out. That’s why she passes on her knowledge to her teams on a daily basis by entrusting them with small and large projects. “I let them take the lead and gain confidence, but I’m always there to reassure them or correct the course. This ever-changing journey is a key part of my own development, and it’s something I hope to share with the person who’ll one day take over from me.”

Picto of a light bulb with a money symbol

Good to know: Experts recommend allowing three to five years for the transfer of a business and more than five years if it’s an agricultural business. This transition period will allow you to acquire knowledge, mull over your decision and ensure the business’s long-term viability by avoiding the turbulence of a hasty process.

Picto of a rocket

Further reading
Discover more stories about people who’ve taken over a business:

→  Kaven Davignon from Miels d’Anicet: Joining the family

→  Jordan Di Corpo from L’Amour du Pain: Passing on the passion

Would you like to embark on the adventure of taking over a business? Learn more about business transfers.

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