Private Equity Sweet On Canada Jam Firm Crofter’s Organic

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Food-focused backstage equity level Power Sustainable Lios has acquired Crofter’s Organic, a Canada-based integrated jams, jellies and consequence spreads producer.

The woody includes co-investments from Farm Credit Canada (FCC), BMO Capital Partners and nan Latka family, which founded Crofter’s.

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Financial position were not disclosed.

Crofter’s Organic CEO Tim Jax said: “Partnering pinch Lios, FCC, and BMO Capital Partners enables america to accelerate our ngo of delivering high-quality integrated consequence spreads to much households crossed North America and beyond.”

In a connection yesterday (22 January), Power Sustainable Lios said nan finance will backmost Crofter’s “next shape of description ”, including capacity enhancement, brand-building done trading spend, and merchandise development.

Power Sustainable Lios managing partner Jonathan Belair said: “Our finance successful Crofter’s reflects our condemnation successful nan semipermanent maturation of sustainably oriented nutrient businesses.

“Crofter’s has built an exceptional marque rooted successful quality, integrated ingredients, and responsible production.”

The transaction besides marks nan exit of Chicago-based backstage equity patient Frontenac, which purchased a mostly stake successful Crofter’s Organic successful February 2021.

Frontenac confirmed nan waste successful a abstracted statement.

It said successful nan past 5 years Frontenac and Crofter’s “expanded nan marque and better-for-you positioning into mainstream channels, scaled nan team, upgraded nan company’s systems and enterprise-wide processes, and enhanced its invention and merchandise improvement capabilities”.

Meanwhile, nan Latka family will stay progressive arsenic a semipermanent partner successful nan business.

Founded successful 1989, Crofter’s Organic manufactures integrated jams, preserves and consequence spreads for its namesake marque and for private-label and statement manufacturing partners.

The Parry Sound, Ontario-based institution operates an automated accumulation installation successful nan province.

The patient distributes its products crossed “major retailers” successful North America.