Altamont Capital Partners announced the acquisition of Maxi Canada, Inc. (Maxi), a leading manufacturer of frozen poultry products based in St-Lin-Laurentides, Quebec.
Maxi, founded in 1970, has developed a portfolio of frozen poultry products sold throughout the United States. The company is known for its high quality, great tasting products, sold under the Yummy and Dino Buddies brands. The Dino Buddies better-for-you attributes, distinct shapes and fun packaging have driven extraordinary success as a “mom-approved” product that is tasty and fun for kids, and increasingly popular among millennials. The company will benefit from oversight and support led by Altamont’s operating partner and CEO of Tall Tree Foods, Tim Bruer, Altamont said in a statement. Bruer will support and lead the existing management team as Executive Chairman to drive the continued growth across the US, and development of new products. The company’s plant and office will remain in St-Lin-Laurentides.
Commenting on the acquisition, Casey Lynch, Managing Director of Altamont, said: “Maxi has developed a suite of great tasting and desirable products that consumers love and we are thrilled to partner with the team to continue to deliver great products. We believe our industry experience and dedicated operating partners can provide value-added support to management as they continue to pursue growth opportunities.”
Bruer added, “The Dino Buddies brand has great growth potential and we look forward to expanding the distribution of existing products as well as exploring new products and adjacencies.”
Financing for the acquisition was provided by Royal Bank of Canada, National Bank of Canada and Bank of America Merrill Lynch. Houlihan Lokey served as the exclusive financial advisor to Maxi Canada, Inc.
Source: Altamont Capital Partners