A group of Quebec investors led by Champlain Financial Corporation acquires Baxters Canada Inc. (BCI), a leader in the production of soups
MONTREAL, May 24, 2018 – A group led by Champlain Financial Corporation announces the acquisition of BCI Inc., a Canadian leader in the production of soups and food processing, making BCI 100% Canadian owned and operated.
This is great news for the industry and with this transaction, the Saint-Hyacinthe Quebec based business is now well positioned to accelerate its development and promotion of products across the country and internationally.
Founded in 1976, BCI is one of Canada’s largest producers and distributors of canned soups and leading “private label” food processor. In addition, BCI also manufactures and owns the Aylmer and Primo soup brands and manufactures IMP rations for the Canadian Armed Forces. With more than 200 people employed at the Saint-Hyacinthe facility, BCI have forged partnerships with leading retailers across Canada and abroad, making the company well positioned to ensure continued growth and prosperity.
“Recognized as a leader in the food processing industry in Canada, the acquisition of Baxters Canada Inc. (BCI) allows us to maintain and pursue the development of another great Canadian company” said Scott Jackson, of Champlain Financial Corporation.
Mr. Daniel Cousineau joins as Chief Executive Officer and an investor in the transaction to expand and accelerate its development abroad (Daniel is the former President of L.B. Maple Treat Inc. and Les Rôtisseries St-Hubert).
“I’m looking forward to working alongside such a group of talented industry veterans by joining Mr. Gilles Barbeau, BCI President and Chief Operating Officer, Mr. Ashley Kanary, Executive Vice President Sales and Marketing and Mr. Francois-David Leblanc, Chief Financial Officer. With more than 42 years in the food processing business, BCI is well established as a market leader across the industry servicing leading retailers and we are firmly committed to building upon its expertise”, adds Mr. Cousineau
The financial terms of the transaction have not been disclosed.
About Champlain Financial Corporation:
Champlain, a Canadian private holding company based in Montreal, has been building a diversified private investment portfolio since 2005, with a series of investments throughout Canada and the United States. Champlain’s core focus is to serve as a value-added partner in providing equity capital and growth management expertise to small and middle-market companies. www.champlaincanada.com
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