Catterton Partners acquired a controlling stake in Alasko Foods Inc., a Montreal, Canada-based marketer of frozen fruits and vegetables. Financial terms were not disclosed.
Catterton Partners (“Catterton”), the leading consumer-focused private equity firm in North America, today announced that it has acquired a controlling interest in Alasko Foods Inc. (“Alasko”), the largest Canadian marketer of frozen fruits and vegetables to both institutional and consumer markets. Terms of the transaction were not disclosed.
Alasko specializes in importing, distributing and marketing high quality frozen fruits and vegetables from around the world. The company is a leading distributor in the Canadian market and has the broadest product offering with more than 230 SKUs serving all distribution channels. The company’s current retail products are sold under Alasko and MOOV brands as well as private label. Alasko has more than 100 employees and works with leading suppliers from across the world to plant the best varietals for freezing, select the best crops at harvest, and implement leading-edge individual quick freeze technology to ensure consistent product quality.
“With its broad product offering, strong customer relationships and proven operating model, Alasko is extremely well positioned in the marketplace,” said Marc-David Bismuth, Operating Partner at Catterton Partners. “We look forward to partnering with the Alasko team and leveraging our consumer expertise to capitalize on the significant expansion opportunities we see in Canada as well as in the U.S., which has a large and growing frozen fruit and vegetable market.”
“We are pleased to complete this transaction, which partners us with simply the best consumer-focused firm with an impressive track record of building and enhancing consumer brands in North America,” said Platon Gavrielatos, Chairman of Alasko. “Together with Catterton, Alasko will be well positioned to capitalize on exciting opportunities to further expand our business and enhance our market position in North America. Over the past 20 years, we have built Alasko into a strong, dynamic company, with very talented people. I am very proud of what our team has accomplished and equally excited about our future with the strategic and financial support from Catterton.”
Catterton’s current food and beverage representative investments include Naya Waters, a leading bottled water company in Canada, specializing in the production of natural spring water and spring-water based drinks with a focus on environmental sustainability; Breyers Yogurt Company, the largest independent yogurt company and one of the most widely recognized yogurt brands in the U.S.; and Van’s Foods, a leading developer, manufacturer and marketer of branded, all-natural frozen waffles. Catterton’s food and beverage realized investments include Odwalla, the leading health beverage brand in the U.S. and Kettle Foods, maker of America’s best-selling all-natural potato chips, among others.
About Catterton Partners
With more than $2.5 billion under management, Catterton Partners is the leading consumer-focused private equity firm in North America. Since its founding in 1989, Catterton has leveraged its investment capital, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market consumer industry.
Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, and Media and Marketing Services. Representative investments that Catterton Partners has led include Breyers Yogurt, Cheddar’s Restaurants, Heartland Recreational Vehicles, O.N.E. (One Natural Experience) beverages, Nature’s Variety Pet Food and Restoration Hardware. Representative realized investments include Baja Fresh Mexican Grill, Build-A-Bear Workshop, Frederic Fekkai, Kettle Foods, Odwalla, P.F. Chang’s China Bistro and Wellness Pet Food.
More information about the consumer-focused private equity firm can be found at http://www.cpequity.com.
About Alasko Foods Inc.
Alasko imports and distributes the finest frozen fruits and vegetables from around the world. Founded in 1989, the company is the leader in its sector in Canada with a broad offering that features more than 230 SKUs serving all distribution channels. The company’s current retail products are sold under Alasko and MOOV brands as well as private label. With a team of more than 100 employees, Alasko works with leading suppliers from across the world to plant the best varietals, select the best crops at harvest, and implement leading individual quick freeze technology to ensure consistent product quality – day in and day out, whatever the season. Alasko and its team are committed to building and cultivating the closest possible relationships with customers and satisfying the needs and tastes of consumers.