Searchlight Capital Partners, a private equity firm with offices in Toronto, New York and London, has with its partners acquired M&M Meat Shops Ltd for an undisclosed sum. Founded in 1980, the Kitchener, Ontario-based M&M is a retailer of specialty frozen food in Canada, with approximately 400 locations across the country. Concurrent with the transaction, the company announced the appointment of a new CEO, Andy O’Brien, and CFO, Sam Florio. O’Brien, who has more than 25 years of experience in the food industry, was previously the CEO of Ottawa’s The WORKS Gourmet Burger Bistro Inc, which in 2010 was bought by private equity-backed Fresh Brands Inc.
Searchlight Capital Partners and partners acquire M&M Meat Shops
Acquisition brings renewed focus and vision to the future of the brand
TORONTO, July 30, 2014 /CNW/ – Searchlight Capital Partners, L.P. (“Searchlight”) and its partners today announced the acquisition of M&M Meat Shops Limited (“M&M Meat Shops” or the “Company”), a Canadian company based in Kitchener, Ontario. Together with the acquisition, the Company is also pleased to announce the appointment of a Chief Executive Officer, Andy O’Brien, and a Chief Financial Officer, Sam Florio.
“M&M Meat Shops is an iconic Canadian brand with a strong and established network of dedicated and successful franchise partners,” said Erol Uzumeri, a founding partner of Searchlight. “With the right investments, we look forward to realizing the growth potential of the Company.”
As the largest independent retailer of specialty frozen food in Canada, with approximately 400 locations nationwide, M&M Meat Shops is known for its high quality products, its friendly customer service, and its convenient, single aisle stores. Mac Voisin founded M&M Meat Shops in 1980, and he will remain an advisor to the Company. “Canadians love and trust M&M Meat Shops because they can count on the quality and convenience of its products. I am confident that the new team will continue to ensure that the brand remains a Canadian favourite,” said Mr. Voisin.
Mr. O’Brien and Mr. Florio will join the Company immediately. Mr. O’Brien has over 25 years of experience in the food industry. Most recently, he was the CEO of The WORKS Gourmet Burger Bistro, where he led the expansion of the company from six to twenty seven stores. Previously, Mr. O’Brien was the President of Kelsey’s Bar & Grill and Montana’s Cookhouse, where he managed a franchise network of 200 stores across Canada. Mr. Florio was formerly the Vice President of Finance and Business Planning at Cara Operations Ltd. Previously, Mr. Florio held a number of finance and business development roles at Mars, Inc.
“Andy and Sam are great leaders that share our passion for the M&M Meat Shops brand. By working with the existing employees and the franchise partners, we are confident that they will lead the business to even greater success,” added Mr. Uzumeri.
About Searchlight Capital Partners, L.P.
Searchlight Capital Partners, L.P. (“Searchlight”) is a private investment firm founded in 2010 by senior partners formerly with industry leading investment management firms. Searchlight currently manages over $1 billion, invests in a wide range of industries in North America and Europe, and has offices in Toronto, New York, and London. For more information, visit www.searchlightcap.com.
SOURCE Searchlight Capital Partners, L.P.
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