MONTREAL, Nov. 3, 2021 /CNW/ - Regal Confections ("Regal"), a leading distributor of global candy and chocolate confectionery brands in the nation, today announced the acquisition of Tosuta International Sales Ltd. ("Tosuta"), an importer and distributor of gummies, sours, hard and soft candies, throat lozenges, and chocolate.
Tosuta, headquartered in Langley, British Columbia, was founded 43 years ago and has grown to become a market leader within the gas & convenience channel. Tosuta represents brands Canadians instantly recognize, love and trust, including Bentasil, Hi-Chew, and Red Band. Tosuta is also the proud owner of the Koala and Livewires brands, which are category leaders in the gas & convenience channel.
"For decades Tosuta has been dedicated to delivering the best quality confectionery and other fine products from around the world to the Canadian market. We selected Regal to uphold our values and foster growth for our brand partners and customers, relying on their nearly 60 years of experience in the confectionary industry." says Dean MacDonald, President of Tosuta.
"Dean is an industry veteran whom we have known a long time. We've always admired and respected Tosuta's leadership and its brand positioning. Over the past few years, Dean and I have had informal discussions and we both agreed this was the right time to come together. With Tosuta and its brands in our portfolio of products, Regal will increase its presence in Western Canada and we plan on expanding upon the Tosuta team's great work on a national basis." says Hani Basile, President and CEO of Regal.
The strategic acquisition strengthens the presence and scope of Regal's existing gas & convenience business, deepens its portfolio of leading brands, provides entry into the throat lozenges category, and offers the potential to drive increased channel and geographic penetration by leveraging Regal's coast-to-coast infrastructure and long-standing relationships.
The transaction was made possible by the capital and strategic support of Clearspring Capital Partners ("Clearspring"), a leading Canadian private equity firm focused on growing mid-market companies, and funding from Regal's other shareholders, including Senior Management. "We are impressed with Tosuta's brand portfolio, market penetration, and long track record of success. This is the first acquisition since our partnership with Regal commenced late last year, and we are excited to continue supporting Regal in elevating their leadership position as an independent value-added distributor with co-packing and manufacturing capabilities." says Milap Choksey, Principal at Clearspring.
About Regal Confections
Regal Confections, known industry-wide as "Your Candy Experts", was founded in Montreal in 1962. It is one of the leading distributors of global candy and chocolate confectionery brands in the nation. Regal manufactures peanut-free and nut-free chocolate products in Quebec under the "Jean-Talon" (CJT) brand (as well as private label and licensed products in Canada and the US). Regal distributes fine imported and domestic gourmet foods under the "Euro-Excellence" (EEX) division, and it creates gift baskets for leading retailers under the "Sweet Expressions" brand. During peak periods, the company employs more than 300 people across 6 locations. Regal sells through all major distribution channels in Canada (including club, grocery, drugstores, mass merchants, convenience stores, dollar stores, and specialty independent stores).
For more information, visit www.regalcandy.com
About Tosuta International
Tosuta International Sales Ltd., headquartered in Langley, British Columbia, and founded 43 years ago, is an importer and distributor of gummies, sours, hard and soft candies, throat lozenges, and chocolate. It is a leading player in the gas & convenience channel, and represents its own brands, Koala and Livewires, and highly recognized and coveted brands including Bentasil, Hi-Chew, Red Band, and Violet Crumble. The Company sources only the finest quality confectionery from long standing trade partners. Tosuta sells through a variety of channels in Canada including wholesale, gas & convenience, drugstores, club, and grocery.
For more information, visit www.tosuta.com
About Clearspring Capital Partners
Clearspring Capital Partners is a leading Canadian private equity firm that invests in and acquires medium-sized companies through buyouts, growth and acquisition financings, going private transactions, industry consolidations, recapitalizations and other types of transactions. Clearspring has raised nearly 600 million dollars in capital since it was founded in 2002.
Clearspring focuses on established and stable industries, such as the food industry, and companies with strong market positions and skilled management teams. The Clearspring team works out of its offices in Toronto and Montreal in close collaboration with the management teams of its portfolio companies in order to ensure the creation of added value.
For more information, visit www.cscap.ca
SOURCE Regal Confections