A consortium of investors from the Middle East region is set to acquire a majority stake in La Maison Cannelle, a leading specialised food producer in the health and wellness food segment based in Quebec, Canada.

Headquartered in Richmond, La Maison Cannelle is a leading purveyor 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 a 10 per cent growth and expected market size of $17 billion by 2016.

As part of the acquisition, the consortium will invest in capacity expansion as well as organic growth, said a statement from Trussbridge Investments, which led the consortium of regional investors participating in the transaction.

La Maison Cannelle enjoys strong brand recognition with a diverse portfolio consisting of more than 80 different types of gluten-free products, divided into four categories, namely: bread and bakery, dessert, prepared meals and dry products.
The company distributes its products through a range of conventional retail chains and natural food supermarkets, including key Canadian supermarkets such as Metro.

The products are also supplied to locally-based restaurant chains and hotels.  

Rody A. Yared, the co-managing director of Trussbridge, pointed out that the transaction was a testament to the firm’s ability to act as a bridge between companies in North America and investors in the Middle East.

"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," stated Yared.

"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," he added.

Samer A. Katerji, the co-managing director of Trussbridge, said: “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," he added.

Trussbridge Advisory Holding acted as the exclusive advisor on the transaction.

Frederic Blaise, the 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," he added.-TradeArabia News Service