MARKHAM, ON, March 23, 2012 /CNW/ - Sofina Foods Inc. (Sofina) and Wind Point Partners are pleased to announce the companies have signed a definitive agreement under which Sofina will acquire 100% of Santa Maria Foods ULC (Santa Maria). Terms were not disclosed. The transaction is expected to close shortly after required regulatory approvals are received, upon which Santa Maria will become a wholly owned subsidiary of Sofina.
"This acquisition not only allows Sofina to bring prominent brands into the Sofina family but also strengthen our capabilities in further processed proteins," stated Michael Latifi, Sofina's Chairman and Chief Executive officer.
"We are very excited to be joining the Sofina Foods organization," commented Fred Jaques, Chief Executive Officer, Santa Maria Foods. "The history and success of our specialty Italian food business is a great fit with Sofina Foods' growth strategy, and we are proud to be part of the family."
The Sofina and Santa Maria businesses are complementary and as a result, the combined operations will supply retail and foodservice customers across Canada and into the United States with 15 primary and further processing operations in British Columbia, Alberta, Saskatchewan, Ontario and Washington State.
About Sofina Foods Inc.
Sofina Foods Inc. is a private, family-owned Canadian company headquartered in Markham, Ontario. As one of the nation's leading manufacturers of primary and further processed protein products for both retail and foodservice customers, Sofina Foods has a broad portfolio of branded and private label pork, beef, turkey, and chicken products. Sofina's family of branded products consists of: Lilydale, Fletcher's, Vienna, Cuddy and Quality Meats. Sofina Foods currently operates 12 HACCP-approved manufacturing facilities (11 in Canada and one in the northwestern United States), and has over 3,000 employees.
About Santa Maria Foods ULC
Santa Maria Foods is Canada's leader in specialty Italian-style deli meat and imported grocery products, with the deli meats sold under the San Daniele and Mastro brands. San Daniele and Mastro deli meats, such as prosciutto, mortadella and dry cured salami, are produced using authentic, traditional, dry curing Italian processes. The company also imports and exclusively distributes some of the best Italian grocery brands; notably Lavazza espresso coffees, San Benedetto water and Rio Mare tuna; and sells Canada's favourite bottle of olive oil, Mastro Extra Virgin 1 litre. Santa Maria operates three plants in Ontario with 440 associates, all with BRC certification under the Global Food Safety Initiative, and is headquartered in Brampton, Ontario. For the last 5 years, Santa Maria Foods has been owned by the Chicago-based private equity firm Wind Point Partners together with company management.
Stikeman Elliott LLP and PricewaterhouseCoopers were engaged on behalf of the purchaser. The company thanks these firms for their support.
For further information:
Media inquiries may be directed to:
Director, Corporate Communications & Public Relations
Phone: (780) 472-6400
Email: [email protected]
Chief Executive Officer
Santa Maria Foods
Phone: (905) 494-2302