Desjardins Group acquires two real-estate brands from U.K.-based firm

LEVIS, Que. — Desjardins Group says it has reached a $60.5-million agreement with a U.K.-based hybrid real estate agency to acquire its Canadian holding company and its two brands.

The financial group says in a statement it will acquire the brands Purplebricks Canada and DuProprio from Purplebricks Group plc.'s holding company 9059-2114 Quebec Inc.

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Purplebricks Canada provides fixed-fee real estate brokerage services for homesellers in three provinces, while DuProprio provides real estate services without an agent in Quebec.

The two companies have more than 500 employees in Quebec, Ontario, Manitoba and Alberta.

Desjardins, which is one of the largest mortgage and insurance providers in Quebec, says both will continue to be run by the existing teams.

It says the deal takes effect on Wednesday.

This report by The Canadian Press was first published July 15, 2020.

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