Earthfresh Foods

Industry

Industry: Distributor—Food

Company Profile

Gemini Foods is Ontario’s largest distributor of potatoes, carrots and onions, with offices located in Bradford and Toronto. It sources product from across Canada and the U.S., and its customer base includes Canada’s largest grocery retail chains.

NewPoint’s Role

NewPoint was retained by a group of industry executives who were seeking to acquire a food business. NewPoint’s acquisition search yielded a number of acquisition opportunities, ultimately resulting in agreement to acquire Gemini. NewPoint led the negotiations and raised the capital required to complete the acquisition.

Transaction Snapshot

The business was acquired from a number of owner-managers who were seeking liquidity. As a result of the terms negotiated with the sellers, NewPoint was able to put in place a capital structure which enabled its clients to obtain a controlling-stake in the company while benefiting from the medium to long term patience of an institutional investor which provided the bulk of the capital. At closing, the business was renamed Earthfresh Foods.

Management Buy-In Revitalizes Business.

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