Private equity investorCatterton Partners , Greenwich, Conn., said it purchased a controlling interest in Alasko Frozen Foods Inc. Officials described Alasko, Montreal, as Canada's largest marketer of frozen fruits and vegetables to institutional and consumer markets. Terms of the transaction were not disclosed.
“With its broad product offering, strong customer relationships and
proven operating model, Alasko is extremely well positioned in the
marketplace,” said Marc-David Bismuth, an operating partner at Catterton. “We look forward to partnering with the Alasko team and
leveraging our consumer expertise to capitalize on the significant
expansion opportunities we see in Canada as well as in the United States, which
has a large and growing frozen fruit and vegetable market.”
Catterton said Alasko imports, distributes and markets frozen fruits and vegetables from around the world. The company is a leading distributor in the Canadian market and has the broadest product offering with more than 230 SKUs serving all distribution channels, officials said.
Alasko retail products are sold under Alasko and MOOV brands as well as private label. Officials said Alasko has more than 100 employees and works with leading suppliers from across the world to plant the best varietals, select the best crops at harvest, and individually quick freeze product to ensure consistent quality.
“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,” said Platon Gavrielatos, Alasko chairman. “Together with Catterton, Alasko will be well positioned to capitalize on exciting opportunities to further expand our business and enhance our market position in North America.
"Over the past 20 years, we have built Alasko into a strong, dynamic company, with very talented people. I am very proud of what our team has accomplished and equally excited about our future with the strategic and financial support from Catterton.”
Catterton’s food and beverage investments includeNaya Waters, a leading bottled water company in Canada;Breyers Yogurt Company, the largest independent yogurt company and one of the most widely recognized yogurt brands in the U.S.; andVan’s Foods, a leading developer, manufacturer and marketer of branded, all-natural frozen waffles.
Investors buy Alasko frozen fruit, veg business
September 8, 2010