Catterton Partners, a consumer-focused private equity firm in North America, has acquired a controlling interest in Alasko Foods, the largest Canadian marketer of frozen fruits and vegetables to both institutional and consumer markets.
Terms of the transaction were not disclosed.
Alasko specialises in importing, distributing and marketing frozen fruits and vegetables from around the world. The company’s current retail products are sold under Alasko and MOOV brands as well as private label.
"With its broad product offering, strong customer relationships and proven operating model, Alasko is extremely well positioned in the marketplace," says Marc-David Bismuth, operating partner at Catterton Partners. "We look forward to partnering with the Alasko team and leveraging our consumer expertise to capitalise on the significant expansion opportunities we see in Canada as well as in the US, which has a large and growing frozen fruit and vegetable market."
"We are pleased to complete this transaction, which partners us with simply the best consumer-focused firm with an impressive track record of building and enhancing consumer brands in North America," adds Platon Gavrielatos, chairman of Alasko. "Together with Catterton, Alasko will be well positioned to capitalise on exciting opportunities to further expand our business and enhance our market position in North America."
Catterton’s current food and beverage representative investments include Naya Waters, a bottled water company in Canada specialising in the production of natural spring water and spring-water based drinks with a focus on environmental sustainability; Breyers Yogurt Company, the largest independent yogurt company in the US; and Van’s Foods, a developer, manufacturer and marketer of branded, all-natural frozen waffles.
Catterton’s food and beverage realised investments include Odwalla, a health beverage brand in the US; and Kettle Foods, maker of all-natural potato chips.
