PE-backed Mecatherm buys ABI Auto-Bake Industries

France's Mecatherm, a portfolio company of Unigrains Group, has acquired a majority of ABI Auto-Bake Industries, a Toronto-based maker of industrial baking equipment.

France’s Mecatherm, a portfolio company of Unigrains Group, has acquired a majority of ABI Auto-Bake Industries, a Toronto-based maker of industrial baking equipment. No financial terms were disclosed. Mecatherm, a maker of ovens, machinery and automated production lines for the bakery and pastry industry, was acquired by Unigrains in 2018.

PRESS RELEASE

Paris & Toronto, January 5th, 2021 – TMG, owner of MECATHERM, a world leader in industrial baking equipment, has acquired a majority stake in ABI Auto-Bake Industries Ltd. (“ABI LTD”), a leading Canadian designer, manufacturer and integrator of industrial baking equipment. Supported by Unigrains, this transaction strengthens the international footprint of both MECATHERM and ABI LTD and expands their product offerings of innovative solutions for industrial bakers.

Founded in 1989 and headquartered in Toronto, ABI LTD is a premier North American bakery solutions provider recognized for its bagel and pretzel production equipment (make-up & baking), its robotic solutions, and its automation equipment (rack loading & unloading and pan & board management systems). Led by co-founder and CEO Alex Kuperman, ABI LTD has sales of roughly 20 million CAD, strong growth, and deep technical expertise supported by a team of nearly 80 people.

Several synergies have already been identified between MECATHERM and ABI LTD within TMG:

Product Range: together, ABI LTD and MECATHERM now offer a complete end-to-end bagel line; many additional ABI LTD products can be integrated into MECATHERM’s offering

Customers: complementarity in the profile of past and current customers and access for MECATHERM to medium and large-sized companies and North American groups across the baking industry

Geography: a new international dimension to promote the development of MECATHERM in North America and of ABI LTD in the 80 countries in which MECATHERM equipment currently operates.

The relevance of this acquisition has already been demonstrated by the September 2020 launch of the MECABAGEL line, a complete solution for the production of bagels from make-up to freezing. This new and unique solution combines the technologies of both companies, allowing clients to produce artisan-style bagels on high-performance industrial equipment.

Alex Kuperman, CEO of ABI LTD, declared: “With TMG and Unigrains, we have found partners who share our values and our culture. Beyond furthering innovation and enriching our complementary product and service offering, this transaction will greatly benefit the teams of both companies through the sharing of expert know-how and best practices. It will enable ABI LTD to more seamlessly serve large, global customers and offer mid-sized industrial bakeries a wider variety of manufactured solutions. We are delighted to enter this new phase of our development as part of TMG.”

Olivier Sergent, President of TMG and MECATHERM, declared: “ABI LTD’s know-how for integrating robotic solutions in production lines, its leading position in bagels in North America and the reliability of its equipment – widely recognized by the market – convinced us. We are looking forward to this deeper collaboration with Alex Kuperman and the ABI LTD teams.”

Jean-François Laurain, CEO of Unigrains, declared: “With complementary positions and several common projects, this operation offers many advantages for the development of both MECATHERM and ABI LTD. This acquisition is fully in line with our vision for the global industrial baking equipment industry, a strategic outlet for French agricultural productions.”

About ABI LTD
Since 1989, ABI has helped industrial bakeries across the globe decrease their operating costs, increase their yields, and make better food more efficiently. Based in Toronto, Canada, ABI is home to roughly 80 team members including a deep roster of engineering, technical, and production experts. With a satisfied network of customers across five continents, ABI is the leading designer and manufacturer of bagel make-up equipment and a pioneer in robotics for bakeries. ABI equipment produces many well-loved baked goods, from bagels to pretzels, pizzas to sweet goods. ABI prides itself on its robust design and build quality and continues to innovate around the “bakery of the future.”

For more information: www.abiltd.com

About TMG
Majority owned by Unigrains Group, TMG (Together Means Greater) unites its industrial baking equipment subsidiaries with a privileged partnership approach. TMG accompanies the development of each of its brands by favoring shared expertise, processes and experiences around a core set of shared values including savoir-faire, exemplarity and teamwork.

About MECATHERM
MECATHERM designs, develops, assembles and installs ovens, machines, and automated production lines for breads, cakes and pastries, all around the world. 420 employees develop MECATHERM’s know-how (300 in Alsace and 120 in Pays-de-la-Loire). The company has sales of roughly €M 100, 90% of which are via exports, with clients in 80 countries over 5 continents.

For more information: www.mecatherm.fr

About Unigrains
For over 55 years, Unigrains has accompanied the development of agri-food and agro-industry companies providing tailor-made financial solutions in equity and quasi-equity, as well as contributing its recognized industry expertise. Unigrains manages 1 billion euros and is a partner for nearly 100 companies, operating at various stages of their development, notably capital restructurings, strategic investments and acquisitions, and ensuring national and international growth.
For more information: www.unigrains.fr