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February 2020 – Osprey Capital Partners Inc. is pleased to announce that Celtrade Canada has been acquired by Stir Foods, a portfolio company of Wind Point Partners. Osprey Capital acted as the exclusive advisor to The Succession Fund, a private equity fund managed by Argosy Partners Ltd., and to the other owners of Celtrade.
The Client
Celtrade is a leading private label and contract manufacturer of custom sauces, dressings and condiments for retail and foodservice customers. Celtrade operates a 56,000 square foot, Safe Quality Food (“SQF”) certified facility in Toronto, Canada. The Succession Fund initially partnered with Celtrade’s founder, and then went on to build a professional management team and develop and execute a deliberate growth strategy.
The Objective
The Succession Fund was looking to find the right partner to help continue the companies’ impressive historical growth and provide liquidity for the shareholders. Osprey Capital planned and executed a highly confidential sale process which included identifying a select group of strategic and financial buyers.
The Result
The combination of Stir and Celtrade creates a stronger, more diversified custom sauce and dressing platform with redundant manufacturing capabilities across multiple geographies, a broad packaging assortment and a deep bench of culinary talent.
Larry Klar, Partner at Argosy Partners, noted, “We are proud to have been a part of Celtrade’s evolution to become a leader in its niche and we are confident that the combination of Stir Foods, Chris Bouchard and his team will build on Celtrade’s already impressive track record.” He continued, ” Osprey Capital conducted a strong disciplined process that was successful for the vendors.”
Joe Lawler, Managing Director with Wind Point Partners, stated, “The acquisition of Celtrade has become a key component of our value creation plan and boosts Stir’s ability to serve our customers with an enhanced culinary staff and a more diversified geographic footprint.” Milt Liu, CEO of Stir, expressed, “I am thrilled to welcome the Celtrade team to Stir. The cultures of our two companies are very similar, making this a natural partnership.”
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.
