A consortium of investors from the Middle East, led by Canada’s Trussbridge Investments, announced that it has acquired a majority stake in food producer La Maison Canelle. The financial details of the investment were not released, however the funds will be used to expand capacity and to support organic growth of the operation.
Commenting on the process, Rody A. Yared, Co-Managing Director of Trussbridge says, “This transaction is a testament to the Firm’s ability to act as a bridge between companies in North America and investors in the Middle East. Through our presence in Canada, we were able to identify and structure the transaction, while on the other hand we raised capital from Middle East investors looking to get exposure to the sector.”
Founded in 2005 by Elizabeth DuPont, Richmond, Quebec-based La Maison Cannelle is a leading producer of specialty food products, focusing on artisan gluten-free offerings.
‘Gluten free’ is one of the fastest growing food segments within the health and wellness food space in North America, posting 10% growth and a market that is expected to grow to a value of US$17 billion by 2016.
La Masion Cannelle produces more than 80 gluten-free products across the bread & bakery, desserts, prepared meals, and dry products categories, which it distributes through retail chains, natural supermarkets, and restaurant and hotel chains.
“La Maison Cannelle is a creative niche manufacturer of high quality Gluten-Free products,” states Frederic Blaise, CEO of La Maison Cannelle, “The Company has strong growth prospects in North America and I believe we can offer both differentiated and superior authentic products in the Middle East.”