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TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) — Clairvest Group Inc. announced… (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners VII (“CEP VII”, collectively “Clairvest”), has made a minority equity investment in Redstone Food Group (“Redstone” or “Redstone”). Company”). This marks Clairvest’s second partnership in food and beverage co-packing and private label manufacturing.
Redstone is a leading commercial bakery in bread and bakery products, focusing on the in-store bakery sector. Redstone was founded in 1972 and is headed by Rob Wheeler, who has 35 years of experience in the food industry. The company currently operates across several facilities in the Greater Toronto Area. Rob will remain the majority owner of Redstone.
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“We are pleased to partner with Rob on this minority partnership transaction. With a clear vision, operational excellence and leading quality, Redstone is well-positioned to capitalize on exciting opportunities in the market, and we look forward to building on its continued success,” said Robbie Isenberg, Managing Director of Clairvest.
“This partnership with Clearvest is not just about capital; It’s about bringing together expertise and resources to accelerate our growth across North America. “We are excited to embark on this journey with Clairvest as we expand, innovate and enhance the value we deliver to our customers,” said Rob Wheeler, President and CEO of Redstone.
Redstone’s investment is 67% for Clearvesty The investment in the platform and the first investment in CEP VII, a US$1.2 billion investment pool, of which US$300 million is from CVG.
About Clearvest
Clairvest’s mission is to partner with entrepreneurs to help them build strategically important businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top-performing private equity firm with over C$4.4 billion in capital under management. Clairvest invests its own capital and third-party capital through Clairvest Equity Partners limited partnerships in owner-led companies. Under the current management team, Clairvest has initiated investments in 67 different platform companies and achieved the highest quarterly performance over an extended period.
Contact information
Stephanie Lou
Director of Investor Relations and Marketing
Clearvest Group Company
Phone: (416) 925-9270
stephaniel@clairvest.com
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