Puratos Canada buys Yellow Point-backed Foley’s Chocolates

• Foley’s has been producing fine quality chocolate and confectionary products for more than 40 years
• As well as expanding Puratos Canada’s market presence, the combined business will introduce a range of health and well-being-focused ingredients
• Foley’s has been backed since 2016 by Yellow Point Equity Partners

Puratos Canada has acquired Foley’s Chocolates, a Richmond, British Columbia-based provider of real chocolate and compound coatings to industrial manufacturers.

No financial details of the transaction were disclosed.

Foley’s has been producing fine quality chocolate and confectionary products for more than 40 years. It focuses on the baker ingredient, bulk retail and private-label chocolate industry segments of North America.

As well as expanding Puratos Canada’s market presence, the combined business will introduce a range of health and well-being-focused ingredients that cater to evolving consumer preferences, the company said in a statement.

Purlatos Canada is a subsidiary of Purlatos, a Brussels, Belgium-based provider of food ingredients and services for the bakery, patisserie and chocolate sectors.

“Joining the Puratos family means accelerating growth by leveraging the talents and incredible portfolio of the combined organization to bring our customers the same great quality and world-class service, with even more added value thanks to Puratos’ initiatives like Cacao-Trace and other innovations,” said Andrew Elliott, president and CEO of Foley’s. “Ultimately, we’ll be providing customers access to new product lines and services to help them grow and become more successful with their business – which is exactly what Puratos stands for.”

Foley’s has been backed since 2016 by Yellow Point Equity Partners. Based in Vancouver, Yellow Point is a private equity firm focused on investing in mid-market companies in Canada.