Food & Beverage Acquisitions in Canada

Nasta Pet Food, a French family-owned pet nutrition group, announced the acquisition of FirstMate Pet Foods, an independent premium pet food manufacturer based in British Columbia, Canada. The deal also includes FirstMate’s parent company, Taplow Ventures Ltd, which is now fully owned by Nasta Pet Food, strengthening Nasta’s manufacturing and commercial platform in North America. In connection with the transaction, Nasta refinanced its activities with a EUR 120 million senior unitranche facility provided by H.I.G. WhiteHorse.

Power Sustainable Lios acquired Crofter's Organic, a Canadian producer of organic jams, jellies, and fruit spreads, in a deal backed by co-investments from Farm Credit Canada (FCC), BMO Capital Partners, and the Latka family. The transaction marks an exit for Frontenac, which had held a majority stake since 2021; proceeds will support Crofter's expansion including capacity enhancements, brand-building, and product development.

Orenda Commodity Services Ltd. acquired Scoular’s sunflower and wild bird food blending business, including its processing facility in Winkler, Manitoba. The transaction closed on January 19, 2026, and financial terms were not disclosed. Orenda said the deal expands its capacity to serve both the retail wild bird food market and the human-consumption sunflower seed market while supporting continuity for employees, growers, and customers.

Cizzle Brands acquired the manufacturing business of Flow Water/Flow Water Inc. for approximately $83.75 million, a transaction originally announced on December 24, 2025, and completed via a court-supervised receivership process tied to Flow Beverage Corporation’s late-2025 restructuring. The acquired facility in Aurora, Ontario has been rebranded as the CWENCH Hydration Factory (Cizzle Brands Manufacturing), providing vertical integration for Cizzle’s CWENCH Hydration RTD product and a contracted co-manufacturing order book. Flow’s consumer brand intellectual property and trademarks were not included and remain with Rucker Investments, which will continue operating the Flow brand.

CCMP Growth Advisors, LP acquired a majority ownership stake in A1 Cash & Carry, a Canadian cash-and-carry foodservice wholesaler based in Ontario. National Foods sold the stake and will retain a minority interest, while A1’s founder and CEO Amjad “Jay” Parvaiz will continue to lead the business and maintain his family’s ownership position.

Flow Water Inc. became a privately held company after an affiliate of Rucker Investments subscribed for new shares and became the sole shareholder pursuant to an Ontario Superior Court of Justice reverse vesting order. The transaction cancelled all previously outstanding shares and transferred certain excluded assets and liabilities to a newly created ResidualCo to be wound down separately.

Fengate Private Equity (Fengate Asset Management) announced a partnership/investment in Sweets from the Earth, a Toronto-based manufacturer of plant-based, allergy-friendly baked goods, to support the company’s growth across North America. Founder and Co-CEO Ilana Kadonoff and Co-CEO Marc Kadonoff will retain a significant minority stake and continue to lead the business alongside Fengate; the investment is managed on behalf of the LiUNA Pension Fund of Central and Eastern Canada.

Consco Foods Inc. announced it has acquired Montreal-based Allied Food Distributors, a Canadian importer and distributor of kosher food brands. Allied’s operations have transitioned to Consco’s 140,000 sq. ft. distribution center and will operate as a division of Consco while remaining independent day-to-day, expanding the combined company’s kosher product portfolio and national distribution reach.

Commercial Bakeries Corp. acquired Hollandia Bakeries Ltd. and The Good Food Company Inc. (together, Hollandia Bakeries) to expand capabilities in the North American private label cookie market. The deal is the second add-on acquisition for Commercial Bakeries since Graham Partners acquired Commercial Bakeries in September 2023, following the May 2024 acquisition of Imagine Baking.

TopGum Industries, Ltd. has completed the acquisition of Island Abbey Nutritionals, a gummy supplement CDMO specializing in supplement gummies and lozenges. The deal expands TopGum’s manufacturing and technology capabilities in North America by adding Island Abbey’s Prince Edward Island facility, strengthening TopGum’s position in the global functional gummy supplement market.

Organigram Global Inc. acquired 100% of the issued and outstanding shares of Collective Project Limited (CPL), the company behind the Collective Project cannabis and hemp-derived THC beverage brand, for approximately C$6.2 million upfront on a debt-free basis. The deal includes potential U.S. hemp-beverage performance-based milestone payments and earnouts capped at an additional C$24 million, supporting Organigram’s commercial entry into the U.S. hemp-derived THC beverage market and expansion in Canadian cannabis beverages.

Fulcrum Capital Partners announced an investment in Sunco Foods, a Burnaby, British Columbia-based manufacturer of nut-based butters, snacks, and value-added food ingredients that also imports, processes, and distributes organic and naturally sourced nuts, seeds, dried fruits, grains, and legumes. The investment is intended to support Sunco’s continued growth and represents the fifth platform investment in Fulcrum’s Private Equity Fund VI.

Funds advised by SK Capital Partners completed the acquisition of Spectra Confectionery Ltd., a Canadian manufacturer of premium decorative toppings and confectionery products. Spectra was acquired from founders Bill and Maureen Georgas and the Georgas family, with debt financing support from MidStar Capital and Stellus Capital Management (which also made an equity co-investment).

Clairvest Group Inc. and Clairvest Equity Partners VII made a minority equity investment in Redstone Food Group, a commercial bakery focused on in-store bakery bread and bakery products. Redstone will continue to be majority-owned and led by CEO Rob Wheeler, and the partnership is intended to support Redstone’s growth across North America.

Wisdom Natural Brands, parent company of the SweetLeaf natural sweetener brand, acquired Canada-based Drizzle Honey. The deal expands Wisdom’s natural sweetener portfolio with sustainably sourced raw and superfood-infused honey products and supports Drizzle’s expansion into U.S. distribution while continuing growth in Canada.

Second Nature Brands agreed to acquire and subsequently completed the purchase of The J.M. Smucker Co.’s Voortman cookie business in an all-cash transaction valued at approximately $305 million (subject to a working-capital adjustment). The deal includes all Voortman trademarks and Smucker’s leased manufacturing facility in Burlington, Ontario, with approximately 300 employees transitioning to Second Nature Brands. Smucker said the divestiture supports its portfolio optimization and focus on core growth priorities, including Hostess, while Second Nature expands its better-for-you snacking and cookie offerings across the U.S. and Canada.

Mastronardi Produce acquired full and exclusive North American rights in Mastronardi BerryWorld America from its joint-venture partner, BerryWorld Group. The deal converts the 2018 JV into a wholly owned Mastronardi business in North America while preserving Mastronardi’s access to BerryWorld’s breeding program and proprietary premium berry varieties across strawberries, raspberries, blackberries, and blueberries.

Ace Beverage Group acquired nude Beverages, a Vancouver, British Columbia-based ready-to-drink alcoholic beverage company known for its sugar-free vodka soda and brand extensions such as Los Flamingos. Ace Beverage Group is a Canadian better-for-you beverage alcohol company and a subsidiary of Corby Spirit and Wine. Capital West served as exclusive financial advisor to nude Beverages on the transaction.

Ya YA Foods Corporation, a portfolio company of private equity firm Entrepreneurial Equity Partners (e2p/E2P), has acquired Truss Beverage Co., primarily to add Truss’ beverage manufacturing facility in Belleville, Ontario. The deal expands Ya YA Foods’ North American manufacturing footprint to three sites and adds capabilities such as canning and glass alongside its existing aseptic packaging formats; financial terms were not disclosed.

Regal Confections announced the acquisition of Mondoux Confectionary, a Quebec-based confectionery distributor known for its Sweet Sixteen gummies and Giacomo Easter chocolate range. Mondoux will continue to operate as a separate entity under President Mathieu Pilon, with Jean Mondoux joining Regal’s board. The deal was supported by Clearspring Capital Partners along with Regal’s shareholders and banking partners, and the Mondoux family and management team will become partners in Regal.

Swander Pace Capital (SPC) announced an investment in Inovata Foods Corp., a Canadian manufacturer of private-label frozen entrées serving customers in both Canada and the United States. Founded in 1989 by Steve and Lisa Parsons, Inovata operates two Canadian production facilities, and the partnership is intended to support the company’s growth and capacity expansion plans.

Prime Drink Group Corp. announced terms for a concurrent non-brokered private placement financing intended to fund its proposed acquisition of all issued and outstanding shares of Triani Canada Inc. The parties (including 9296-1086 Québec Inc.) are negotiating a definitive agreement, with Prime expecting to seek shareholder approval and complete a share consolidation prior to closing.

Farinart announced the acquisition of all assets of Malterie Frontenac, a Thetford Mines, Canada-based maltster with expertise in sprouting and malting grains. The deal expands Farinart’s specialty grain capabilities for bakery customers and strengthens its offering for the U.S. market.

Bioriginal Food & Science Corp., a wholly owned subsidiary of Cooke Inc., has acquired POS Biosciences Corp. from Canopy Growth Corp. POS Biosciences will operate independently as a wholly owned subsidiary of Bioriginal and will provide R&D services while giving Bioriginal access to POS’s oil processing and molecular distillation capabilities. Financial terms were not disclosed.

Swander Pace Capital partnered with CDPQ and Roynat Equity Partners to acquire a majority stake in St-Méthode Bakery (BSM), a Québec-based supplier of healthy, value-add fresh bread products. BSM will continue operating from its flagship bakery in Adstock, Québec, with the existing management team retained as the investors support continued growth in Canada and the United States.

Thrive Freeze Dry (also referred to as Thrive Foods), a portfolio company of Entrepreneurial Equity Partners (e2p) and Mubadala Capital, acquired Canature, a producer of freeze-dried pet food, treats and ingredients. Canature, founded in 2010 and headquartered in Langley, British Columbia, adds technical freeze-drying and front-end wet processing capabilities plus a facility near Vancouver to Thrive’s platform. Financial terms were not disclosed.

Graham Partners acquired Commercial Bakeries Corporation (CBC), a Toronto, Ontario-based manufacturer and formulator of private label and co-manufactured cookies and biscuits serving retail and CPG customers across North America and globally. The business was previously family-owned, and Graham Partners plans to leverage CBC’s flexible manufacturing and innovation capabilities to support expansion in the private label and co-manufacturing bakery market.

Corby Spirit and Wine, the Canadian affiliate of Pernod Ricard, agreed to acquire a 90% stake in Ace Beverage Group (ABG), a leading independent Canadian ready-to-drink (RTD) beverage alcohol company, at an enterprise value of CAD$165 million. Corby will have a path to full ownership via two call options on the remaining shares exercisable in 2025 and 2028.

Roskam Baking Company, a portfolio company of Chicago-based private equity firm Entrepreneurial Equity Partners (e2p), acquired Marsan Foods for undisclosed terms. The deal expands Roskam’s scale and geographic footprint across the United States and Canada and strengthens its frozen product portfolio, particularly frozen entrées and soups.

Carlsberg Group has completed the acquisition of all issued and outstanding common shares of Waterloo Brewing, making Waterloo Brewing part of the Carlsberg Group. The transaction was approved by over 99% of Waterloo Brewing shareholders and formally completed on March 7. The deal strengthens Carlsberg’s growth prospects in Canada and expands production and portfolio capabilities in beer and ready-to-drink beverages.

Solina has acquired W.T. Lynch Foods Limited, an Ontario-based Canadian manufacturer of customized savoury and sweet culinary solutions for foodservice and industrial markets. The acquisition supports Solina’s ongoing North American expansion and adds manufacturing and packaging capabilities across sauces, syrups, dessert toppings, and soup/gravy bases.

1000420548 Ontario Inc. acquired all issued and outstanding shares of CannaPiece Corp. in a transaction executed via a share purchase agreement dated February 8, 2023. The sale was completed in connection with CannaPiece Corp.'s creditor protection proceedings under Canada’s Companies' Creditors Arrangement Act and a court-approved stalking horse sales process, with the Ontario Superior Court approving the agreement and the closing occurring on February 10, 2023. CannaPiece Corp. will continue operating under new ownership.

PNC Riverarch Capital acquired Backerhaus Veit, Ltd., a producer of artisan European-style breads, rolls, buns, and soft pretzel products serving retail and foodservice customers across North America. The company had been owned by Swander Pace Capital since 2018, during which time it expanded its product base and distribution footprint and completed the 2019 acquisition of Prop & Peller.

Yellow Point Equity Partners V LP (Fund V) closed an investment in Phillips Brewing Limited Partnership, a craft brewery based in Victoria, British Columbia. The investment facilitates broad employee ownership alongside founder Matt Phillips and is intended to support Phillips’ continued growth across its beer, spirits, and non-alcoholic beverage brands in Canada.

Sagard Private Equity Canada made a significant investment in the share capital of Courchesne Larose Ltd. (Courchesne Larose Group) to support and accelerate the company’s expansion. Fondaction and Roynat Equity Partners joined Sagard PE in the investment alongside the Routhier Monette family shareholders and management.

Ironbridge Equity Partners acquired a controlling interest in King's Pastry Inc. in partnership with the company’s existing owners and management team. King's Pastry is a Mississauga, Ontario-based manufacturer of cakes, pastries, and other dessert products serving grocery and food service distribution customers across Canada and the United States.

Ironbridge Equity Partners, together with NAPB’s management team, acquired a controlling interest in North American Produce Buyers Limited (NAPB). Headquartered in Toronto, Ontario, NAPB is an importer and distributor of premium fruit serving retailers and grocers across Canada.

Side Launch Brewing of Collingwood, Ontario has been sold to Equals Brewing Company, which operates a brewing facility in London, Ontario focused largely on contract brewing. Equals’ president said there are no plans to close the Collingwood location and the buyer intends to invest in the brand and expand taproom capacity.

Ironbridge Equity Partners, together with Handi Foods management, acquired a controlling interest in Handi Foods Ltd. Handi Foods is a Toronto, Ontario-based private-label manufacturer of pita-based snack products serving customers across the United States and Canada.

Krystal Growth Partners completed the acquisition of Huer Foods Inc., a packager and distributor of soft & chewy candy. Huer Foods was acquired from its CEO and owner, Ryan Storey, and is headquartered in Langley, British Columbia, Canada.

Benford Capital Partners (BCP) has recapitalized Gum Products International, Inc. (GPI) in partnership with CEO and founder Kenneth Tan, who will continue to lead the company. GPI is BCP’s first platform investment from its $200 million Fund II and the parties plan to invest in growth initiatives and pursue future add-on acquisitions.

Smart Soda Holdings, Inc. (SSHI) finalized the acquisition of a 51% stake in Smart Soda Canada, Inc., which had previously operated as a Smart Soda dealer. The transaction supports Smart Soda’s pre-IPO expansion strategy and accompanies the company’s broader international buildout, including the launch of Smart Soda UK as part of its global growth plan.

Bonduelle agreed to sell a 65% stake in Bonduelle Americas Long Life (BALL) to institutional investors Fonds de solidarité FTQ and CDPQ, each acquiring equal shares. The deal implies an enterprise value of C$850 million for 100% of BALL, which processes and markets canned and frozen vegetables in the United States and Canada.

Milestone Brands LLC acquired Victoria Distillers Inc. (VDI), the Canadian producer of Empress 1908 Gin, along with Azzurre Spirits Corporation, the U.S. importer of the brand. The deal includes VDI’s Empress 1908 Gin distillery in Victoria, British Columbia, and a packaging facility opened in Vancouver in February 2022. Concurrently, Milestone entered a strategic partnership with BDT Capital Partners, which took a significant minority stake in Milestone to help fund the acquisitions and support future growth.

Arctic Glacier, LLC acquired North Star Ice Ltd., a packaged ice producer and distributor based in London, Ontario. The seller, the Smibert family, is exiting the ice business as North Star Ice joins Arctic Glacier’s North American ice platform and distribution network.

Koios Beverage Corp. signed a definitive agreement (dated April 5, 2022) to acquire all issued and outstanding securities of privately held Retox Beverage Corp. The transaction consideration consists of 15,000,000 Koios units at a deemed value of $0.10 per unit (aggregate $1.5 million), and is expected to close on or before April 30, 2022 subject to customary conditions and regulatory approvals.

Gordon Food Service entered into a definitive agreement to acquire Macgregors Meat & Seafood Ltd., a Canadian supplier serving foodservice, retail, and private-label customers nationwide. After closing (subject to Canadian regulatory approval and customary conditions), Macgregors will operate as a Specialty Company of Gordon Food Service, expanding Gordon’s offerings into new food categories and retailers.

Above Food Corp. announced an agreement to acquire Sonic Milling Systems Ltd., a Canada-based food technology company known for its patented hydrodynamic-cavitation processing technology. The deal adds Sonic Milling’s proprietary IP and global patent portfolio, along with scaled aseptic packaging capabilities, to support expanded production of oat-based ingredients, beverages, and other plant-based products.

PlantPlus Foods, LLC completed the acquisition of Sol Cuisine Ltd., expanding its North American portfolio of plant-based protein products. The deal follows PlantPlus Foods’ recent acquisition of DEW Drink Eat Well, LLC (Hilary’s) as the company builds a broader, vertically integrated plant-based foods platform across the Americas.

Parkland Corporation entered into a definitive agreement to acquire M&M Food Market, a Canadian premium frozen food retailer headquartered in Mississauga, Ontario. The deal, valued at approximately $322 million and expected to close in Q1 2022 (subject to Competition Act approval and customary conditions), is intended to expand Parkland’s proprietary food offering and loyalty/digital strategy by combining M&M’s rewards program with Parkland’s JOURNIE program. Searchlight Capital Partners, which acquired M&M in 2014, is the selling financial sponsor mentioned in the announcement.

Regal Confections announced the acquisition of Kisko Products, Canada’s leading freeze pop manufacturer and owner of the iconic Mr. Freeze brand. Kisko will continue to be led by the Josephs family’s second generation while partnering with Regal to expand seasonal offerings and support growth in Canada and the United States. The transaction was supported by Clearspring Capital Partners along with Regal’s other shareholders and banking partners.

Graham Partners announced the sale of its portfolio company, Giraffe Foods LLC, a custom developer and manufacturer of sauces, marinades, dips, and dressings. Giraffe Foods is headquartered in Mississauga, Ontario, Canada and was acquired by Graham Partners in 2018; the buyer in the sale was not disclosed.

Regal Confections acquired Tosuta International Sales Ltd., a Langley, British Columbia-based importer and distributor of confectionery and throat lozenges. The deal is intended to strengthen Regal’s gas & convenience channel presence, expand its brand portfolio, and broaden geographic reach across Canada. The transaction was supported by capital from Clearspring Capital Partners and additional funding from Regal’s shareholders, including senior management.

Nova Vida GP Inc, an Ontario-based investment firm, completed the acquisition of Thai Indochine Trading Inc (doing business as TI Foods), a leading Asian food products importer and distributor serving mainstream and ethnic grocery stores across Canada. As part of the transaction, Nova Vida President Piyush Kunnapallil will become CEO of TI Foods, with existing leaders Darren Chung and Ted Takounseun continuing in key roles; Sage Capital Partners is referenced as Kunnapallil’s equity investor supporting growth.

Stephano Group Ltd, a family-owned Canadian consumer-packaged food manufacturer, received a minority growth equity investment from the Canadian Business Growth Fund (CBGF). The funding will support Stephano Group’s expansion plans, including increased sales and marketing, corporate infrastructure build-out, and added manufacturing capacity.

Oggi Foods Inc., a Montreal-based manufacturer of gluten-free and better-for-you frozen pizza and related food products, received a growth equity investment from Bregal Partners. The investment is intended to support Oggi’s next phase of growth across grocery and restaurant channels in North America; financial terms were not disclosed.

Yellow Point Equity Partners closed an investment in Fresh Prep Foods Inc., a Vancouver-headquartered meal kit delivery company. The capital is intended to support Fresh Prep’s next phase of growth, including planned expansion into Alberta.

Sproutly Canada, Inc. acquired the primary assets of CannaHive Inc., superseding a definitive agreement the companies had announced in April. The acquired assets include fully automated, pharmaceutical-grade manufacturing equipment to produce cannabis edibles (e.g., gummies and chocolates) at larger scale and lower cost for the Canadian market.

HKW announced the sale of its portfolio company Fresh Direct Produce, Ltd. to PNC Riverarch Capital. Fresh Direct Produce is a Vancouver, British Columbia-based distributor of fresh, ethnic, tropical, organic, and specialty produce.

Rockshield Capital Corp. completed acquisitions of Belle Pulses Ltd. and Sapientia Technology LLC (together with its affiliate Innovative Prairie Snack Foods Ltd.). Rockshield paid CAD$30.0 million in cash for Belle Pulses and a mix of Rockshield shares plus USD$6.4 million cash for Sapientia, with proceeds supported by a new $33.5 million revolving debt facility.

HPH II Investments Master Fund, LP (HPH II), an investment vehicle of WM Partners, acquired Vega (Sequel Naturals, ULC and Vega US, LLC). Vega is a leading plant-based protein powder and nutrition brand founded in 2001 in Burnaby, British Columbia, Canada; transaction terms were not disclosed.

Sodexo acquired Foodee, a corporate meal planning and restaurant-aggregator platform, to expand its foodservices offering across North America. Foodee will become part of Sodexo’s Corporate Services segment, enhancing Sodexo’s off-premise delivery and menu-planning capabilities for businesses with flexible workforces.

RG One Corp. completed a three-cornered amalgamation with Flow Water Inc. (and RG One Subco Inc.), resulting in the combined public company being renamed Flow Beverage Corp. The transaction was accompanied by private placement financings totaling approximately C$68.9 million in gross proceeds through subscription receipts, which were released from escrow, and the company received conditional approval to list on the Toronto Stock Exchange under the symbol “FLOW.”

A group of Quebec investors led by Champlain Financial Corporation acquired Dion Herbs & Spices, a Montreal-area herbs and spices products company founded in 1996. The financial terms were not disclosed, and leadership succession will be handled by a new management team including André Fortier, Jean-Francois Bieler, and the founders’ children.

A Quebec investor group led by Champlain Financial Corporation announced that its bakery-and-pastry investment platform, Bakery Humanity Inc., has acquired Les Aliments 2000 Inc. The deal expands Bakery Humanity’s product portfolio in Quebec; financial terms were not disclosed.

Champlain Financial Corporation and GefCo acquired Naya Waters, returning the business to 100% Quebec-owned and operated. Naya Waters, headquartered in Mirabel, Quebec, produces natural spring water and the acquisition is intended to support accelerated development and new products/packaging across Canada. Financial terms were not disclosed.

Turtle Mountain Seed Co. Ltd. acquired Baden Feed & Supply, LLC, with the transaction closing on March 10, 2021. Baden Feed & Supply, based in Baden, Ontario, manufactures wild bird, caged bird, and pigeon feed and sells other prepared animal feeds and supplies; the business will operate as the Baden Feeds division of Turtle Mountain Seed Co.

Entrepreneurial Equity Partners (e2p) made an investment in Ya YA Foods Corporation, a Toronto-based contract manufacturer of aseptic food and beverage products. The Abbas Al-Ali family is investing alongside e2p and will retain a significant ownership stake; financial terms were not disclosed.

A group of Quebec investors led by Champlain Financial Corporation formed Humanity Bakeries Inc., an investment platform focused on Quebec’s specialized bakery and pastry industry. Humanity Bakeries has acquired Maison Isabelle Inc., a Trois-Rivières-based manufacturer of four-quarter-style cakes sold across Canada, to combine with existing platform company Boulangerie-Pâtisserie Dumas Inc. Financial terms were not disclosed.

Neptune Wellness Solutions Inc. acquired a 50.1% controlling and management interest in Sprout Foods, an organic plant-based baby food and toddler snack company previously backed by Morgan Stanley Expansion Capital (MSEC). The consideration includes $6 million in cash and the issuance of 6,741,573 Neptune common shares valued at $12.0 million, and Neptune will guarantee a $10 million Sprout note in favor of MSEC. As part of the deal, MSEC-managed funds will become a major shareholder in Neptune and partner to support Sprout’s continued growth within Neptune’s consumer packaged goods portfolio.

Frontenac acquired a majority interest in Crofter's Organic, an Ontario-based manufacturer of branded and private label organic fruit spreads sold across North America. The Latka family, Crofter's founders, will retain a significant financial position and remain involved in management, with Apu Mody joining as Executive Chairman. Financial terms were not disclosed.

An investor group led by Champlain Financial Corporation, including Fondaction, acquired a majority stake in the Wong Wing business unit in partnership with McCain Foods Canada. The transaction creates a new frozen food platform, MLW Foods Inc., based in Montreal, Quebec, to expand the Wong Wing brand and grow across North America. Terms of the transaction were not disclosed.

Golden Opportunities Fund Inc. led a new growth funding round in Three Farmers Foods Inc., in partnership with Export Development Canada. The investment will support Three Farmers’ growth plan as it expands its healthy snack and camelina oil product lines, markets, and distribution while remaining headquartered in Saskatchewan.

EMERGE Commerce Ltd. closed the acquisition of all issued and outstanding shares of truLOCAL Inc., a direct-to-consumer meat subscription service, effective December 31, 2020. The total purchase price is up to $16.8 million, consisting of cash, EMERGE common shares, deferred consideration tied to employee retention, and a performance-based earn-out.

The Riverside Company invested in Bonnie & Don Flavours (B&D), a Canada-based manufacturer of natural and organic flavors and extracts. The deal represents the second add-on acquisition to Riverside’s Flavor Platform, which is anchored by National Flavors (NF). The acquisition expands NF’s geographic footprint with manufacturing capabilities in Canada.

An investor group led by Champlain Financial Corporation acquired Bad Monkey Inc, a Canadian marketer and manufacturer of ready-to-eat and microwavable popcorn and other confectionery items. The investment is intended to accelerate product development and expand Bad Monkey’s distribution across Canada and into the United States. Founders Joseph and Fabio Zeppilli will remain as co-CEOs following the transaction.

Clearwater Seafoods agreed to be sold in an approximately $1 billion transaction to a partnership between Premium Brands and a coalition of Mi'kmaw First Nations. The buyers will form FNC Holdings to acquire Clearwater shares, with the deal expected to close in the first half of 2021 and shareholders to receive $8.25 per share.

Clearspring Capital Partners, through Clearspring Fund III, acquired a majority interest in Regal Confections, a Canadian confectionery and premium chocolate products distributor and manufacturer headquartered in Laval, Quebec. Regal’s existing shareholders will remain with the company as it pursues a growth strategy supported by Clearspring’s capital and operational backing, with additional support noted from Investissement Québec.

TPG Growth took a majority stake in SmartSweets, a Vancouver-based better-for-you candy brand. The stake was acquired from the company’s management and other shareholders, while founder Tara Bosch remains the largest individual shareholder; financial terms were not disclosed.

New Alasko Limited Partnership acquired certain assets of Alasko Foods Inc. and Alasko Foods LLC (collectively, Alasko), a frozen fruits and vegetables sourcing and commercialization business across North America. New Alasko was formed by Groupe Commensal Inc. and Avrio Subordinated Debt LP II (Farm Credit Canada’s venture capital division) to complete the transaction, which was approved by the Superior Court of Quebec.

Virgo Investment Group announced a growth capital investment in Flow Alkaline Spring Water, a premium naturally alkaline spring water brand focused on sustainability. The investment will be used to accelerate Flow’s growth, expand distribution channels, and fund new product lines.

Wellness Natural, Inc., a newly created natural foods company headquartered in Toronto, Canada, has acquired SimplyProtein, a nutritional snacking brand. SimplyProtein was previously owned by Simply Good Foods USA, Inc., and will continue its expansion across Canada and the U.S. under Wellness Natural CEO Michael Lines.

South Mill Champs announced that Loveday Mushroom Farms has joined its North American family of mushroom producers. The combination is intended to expand production capacity, improve supply chain coverage (including the Midwest region of Canada and the United States), and enhance operational efficiencies to meet growing demand for fresh mushrooms.

Giraffe Foods Inc., a Toronto-based custom developer and manufacturer of sauces, marinades, dips and dressings, acquired Lounsbury Foods, a family-owned manufacturer known for horseradish and seafood cocktail sauce products. The deal expands Giraffe’s product portfolio and manufacturing capabilities (including fresh root processing) and is expected to create cross-selling opportunities and operational/procurement synergies. Giraffe Foods is a portfolio company of Graham Partners, making the transaction an add-on acquisition for the Graham/Giraffe platform.

HKW-backed Fresh Direct Produce, Ltd. acquired Mike and Mike's Inc. (Mike and Mike's Organics), a distributor of certified organic fruits and vegetables. The deal expands Fresh Direct Produce’s distribution footprint in Ontario; financial terms were not disclosed.

A group of Quebec investors led by Champlain Financial Corporation (CFC) has acquired Boulangerie-Pâtisserie Dumas Inc., a Canadian producer and distributor of puff pastries, croissants, and vol-au-vents. The acquisition is intended to support accelerated product development and expand distribution across Canada and into the United States; financial terms were not disclosed.

Wind Point Partners-backed Stir Foods acquired Celtrade Canada, Inc., a private label and contract manufacturer of custom sauces, dressings and condiments. Celtrade was purchased from The Succession Fund, a private equity fund managed by Argosy Partners Ltd., expanding Stir’s custom sauce and dressing platform with additional manufacturing capacity and geographic reach in Canada.

Jusu Bars Inc. (Jusu) announced it has acquired Westbloom Inc., a Calgary-based specialty beverage company focused on coffees, teas, and cold brew products. The deal expands Jusu’s plant-based beverage offering, enabling it to provide plant-based coffee across its locations as it pursues broader expansion in North America.

Swander Pace Capital has completed the sale of Voortman Cookies Limited to Hostess Brands, Inc. in an all-cash transaction valued at approximately $320 million (C$425 million). Voortman, headquartered in Burlington, Ontario, is a manufacturer of premium wafers and specialty cookies with distribution across North America and globally.

TorQuest Partners made an undisclosed investment in Joriki Inc., a Canadian contract manufacturer of beverages and select food products. Joriki, headquartered in Scarborough, Ontario, plans to continue expanding its manufacturing and packaging capabilities with TorQuest’s support as a new platform investment.

Champlain Seafood platform, backed by Champlain Financial Corporation, announced the acquisition of Captain Dan's Seafood, a New Brunswick-based processor of lobster and snow crab products. Claridge Inc. partnered with Champlain Financial Corporation by making a strategic investment to support the buildout of a Canada-based seafood processing and marketing platform.

Premier Polmarex Inc. ("Polmarex") completed the acquisition of Nostra Gourmet Foods Inc. ("Nostra"), with the transaction closing in May 2019. Beacon Corporation acted as exclusive sell-side advisor to Nostra, running the end-to-end M&A process. Nostra is a fresh and frozen entrée food business based in North York, Ontario, and the deal supports Polmarex’s expansion of its food product portfolio.

Alimplus, a portfolio company of Walter Capital Partners, has acquired AOF Service Alimentaire, a Drummondville-based foodservice distributor serving hotel, restaurant, and institutional customers across Québec. The deal adds AOF’s approximately 125,000 sq. ft. Drummondville distribution centre and expands Alimplus’ geographic coverage in eastern Québec, further strengthening its position as an independent food distributor in the province.

Champlain Financial Corporation signed an agreement to sell L.B. Maple Treat (LBMT) to Lantic Inc. for $160.3 million. Lantic is wholly owned by Rogers Sugar Inc., and the transaction is expected to close in the third quarter subject to customary and regulatory conditions.

Marbour S.A.S. completed the acquisition of MRRM Inc. via an amalgamation of MRRM with a wholly owned subsidiary of Marbour, following approval by MRRM shareholders in Montreal, Quebec. After the transaction, MRRM expects to delist from the TSX Venture Exchange and apply to cease being a reporting issuer. MRRM’s operations include Les Aliments Dainty Foods (rice milling/processing) and other subsidiaries spanning food and ship agency services.