TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) ("CVG") today announced that it, together with Clairvest Equity Partners VII ("CEP VII", collectively "Clairvest"), has made a minority equity investment in Redstone Food Group ("Redstone" or the "Company"). This represents Clairvest's second partnership in the food & beverage co-packing / private label manufacturing domain.
Redstone is a leading commercial bakery of bread and bakery products, focused on the in-store bakery segment. Redstone was founded in 1972 and is headed by Rob Wheeler who has 35 years of expertise in the food manufacturing industry. The Company currently operates across numerous facilities in the Greater Toronto Area. Rob will remain the majority owner of Redstone.
"We are thrilled to partner with Rob in this minority partnership deal. With a clear vision, operational excellence, and leading quality, Redstone is well positioned to leverage exciting opportunities in the market, and we look forward to fueling their continued success," said Robbie Isenberg, Managing Director of Clairvest.
"This partnership with Clairvest is about more than just capital; it is about bringing together expertise and resources to accelerate our growth across North America. We are excited to embark on this journey with Clairvest as we scale, innovate and enhance the value we deliver to our customers," said Rob Wheeler, President and CEO of Redstone.
The Redstone investment is Clairvest's 67th platform investment and the first investment of CEP VII, a US$1.2 billion investment pool, US$300M of which is from CVG.
About Clairvest
Clairvest's mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $4.4 billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 67 different platform companies and generated top quartile performance over an extended period.
Contact Information
Stephanie Lo
Director of Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
stephaniel@clairvest.com
