Trussbridge consortium acquires La Maison Cannelle
Trussbridge, an independent financial services firm, led a consortium of investors from the Middle East to acquire a majority stake in La Maison Cannelle, a specialised food producer in the health and wellness food segment based in Quebec, Canada.
As part of the acquisition, the Trussbridge consortium will invest in capacity expansion as well as organic growth.
Trussbridge co-managing director Rody A. Yared: “Through our presence in Canada, we were able to identify and structure the transaction, while on the other hand we raised capital from Middle East investors looking to get exposure to the sector.
"Additionally, Trussbridge introduced a new management team to drive the future growth of the company under the leadership of Frederic Blaise, a highly experienced and recognised executive in the North American food sector.”
Headquartered in Richmond, Quebec, Canada, La Maison Cannelle is a supplier of artisan gluten-free products.
Founded by Elizabeth DuPont in 2005, La Maison Cannelle operates in one of the fastest growing segments of the health and wellness food sector in North America, with c. 10% growth and expected market size of US$17bn by 2016.
La Maison Cannelle’s portfolio consists of more than 80 different types of gluten-free products, divided into four categories, namely: bread & bakery, dessert, prepared meals and dry products.
The products are distributed through a range of conventional retail chains and natural food supermarkets, and are also supplied to locally-based restaurant chains and hotels.
Frederic Blaise, newly appointed CEO of La Maison Cannelle, said: “La Maison Cannelle is a creative niche manufacturer of high quality gluten-free products. The company has strong growth prospects in North America and I believe we can offer both differentiated and superior authentic products in the Middle East.”
Trussbridge co-managing director Samer A. Katerji added: “We believe the agri-food sector, or more precisely the health and wellness food segment, represents a highly compelling opportunity.
"La Maison Cannelle is an attractive business with solid fundamentals and we are pleased to support its ambitious expansion plans, including entry into the US market as well as the Middle East at a later stage.”