March 2021 – Osprey Capital Partners Inc. is pleased to announce Confederation Freezers, based in Brampton Ontario, has been acquired by Premium Brands Holdings Corporation, a Canadian TSX listed specialty food manufacturing and distribution company. Osprey Capital acted as the exclusive advisor to the owners of Confederation Freezers. 

The Client
Confederation Freezers is one of the largest temperature-controlled warehouse companies in Canada. Founded by brothers Phillip and Harry Greenspan in 1974, the business grew from a 65,000 square foot facility to over 850,000 square feet and provides an industry-leading range of solutions to its clients including ambient, cool, and frozen temperatures. 

The Objective
Confederation Freezers’ owners were seeking the right partner that would support the current management team and continue the company’s impressive historical growth and provide liquidity for the family shareholders. Osprey Capital planned and executed a highly confidential sale process which included identifying a defined group of strategic and financial buyers.

The Result

Premium Brands Holdings Corporation was selected as the ideal acquirer due to its reputation as a leading food manufacturer and distributor across Canada and the United States. Confederation Freezers is a strong addition to Premium Brands’ distribution channels and supply chain infrastructure that will serve to further enhance Confederation’s capabilities and services for its customers.

Alan Greenspan, President of Confederation Freezers, commented; “This is an exciting transaction for our family and a new chapter in our history. We are enormously proud of what we have accomplished over the last 47 years and are confident that, in partnering with Premium Brands, the legacy of Confederation Freezers will be honoured and maintained. We strongly believe that Premium Brands is the right partner, at the right time, to foster these ideals as we move to the next stage of our business.”

“It has been a pleasure to get to know the Greenspan family over the last few years and the Osprey Capital team is incredibly pleased to have been able to assist in the transition of the company. We look forward to the continued success of the management team as a new part of the Premium Brands family.” said Stephen Jakob, Managing Partner of Osprey Capital Partners.

Integral to completion of the transaction, Faskens acted as legal advisors and Deloitte Canada acted as tax advisors to the shareholders of the company.

About Osprey Capital Partners

Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.