25 Jan 2021

Raymond Chabot Grant Thornton’s Corporate Finance team is pleased announce the successful sale of IVEX, Induspac and Estapack (together the “Specialized Packaging Group’’ or ‘‘SPG”) to Palo Alto-based Altamont Capital Partners (“Altamont”).

Founded more than 40 years ago in Montreal, Quebec, SPG is one of the largest independent vertically integrated manufacturers of protective packaging in North America. SPG has grown organically and by way of acquisitions to more than 1,000 employees and operates under two divisions, IVEX and Engineered Packaging.
IVEX, which has six facilities in the US, Canada and Mexico, manufactures a range of packaging materials, including polyethylene foam, cold chain products and other protective packaging products. Engineered Packaging, which is comprised of Induspac and Estapack, designs and manufactures customized packaging solutions at eight facilities in the US and Mexico using a variety of materials, including polyethylene foam, corrugated cardboard and wood.

SPG called on Raymond Chabot Grant Thornton’s Corporate Finance experts to advise on the sale of the company.

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Specialized Packaging Group Inc. (Ivex, Induspac, and Estapack) is acquired by Altamont Capital Partners

“In the context of the sale of Specialized Packaging Group, the contribution of Raymond Chabot Grant Thornton was exceptional in all respects. This transaction would never have been possible without their dedication and expertise . The members of the RCGT team who assisted us in this process demonstrated professionalism, rigor, resilience and perseverance,” states Caroline Bourdon, CFO, Specialized Packaging Group. “I had the opportunity to work with experts from several departments (Financial Advisory, Audit, Tax, Cybersecurity) and in all instances, the level of knowledge surpassed my expectations. RCGT’s ability to quickly understand the complexity of the business operating in four jurisdictions (Canada, the United States, Mexico and Israel) was remarkable. Furthermore, concluding a transaction of this size during the COVID-19 pandemic is a major achievement in my eyes.”

“When giving consideration to the sale of our 44-year-old company, my CFO and I first proceeded to research the best mergers and acquisitions firm in Montreal to partner with. Following a rigorous exercise, we selected RCGT’s Corporate Finance team,” states Paul Gaulin, CEO and founder of Specialized Packaging Group. “Our decision was based on their ability to provide a complete package with the full range of experience and know-how required for all aspects and every stage of the transaction—and we did not regret our decision! In my opinion and after having spent more than four decades acquiring, selling and merging businesses, I can vouch that RCGT is clearly among the top M&A firms in Montreal, backed by a very strong team and excellent tax professionals as well. To anyone looking to hire an M&A firm, I would not hesitate to recommend that you meet with their team before finalizing your decision.”

To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our deal team.

About Raymond Chabot Grant Thornton

Our leading mid-market focused financial advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities.

Raymond Chabot Grant Thornton is a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization. Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 2,800 employees. As a member firm of the Grant Thornton International network and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services network made up of 56,000 people in over 140 countries.

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01 Nov 2020

The Raymond Chabot Grant Thornton M&A and Corporate Finance team is pleased to announce the sale of Caravane 185 (2006) Inc. to Jean-Philppe Cantin, a Québec City area businessman.

Caravane 185 (2006) Inc. specializes in recreational vehicle sales and rentals. With over 750 vehicles sold annually, it is considered a major player in its field and the leader in Eastern Quebec. Caravane 185 (2006) Inc. distributes Forester, Cougar, Forest River, Crossroad, Laredo, Wildwood, Coachmen, Apex and many other brands! The company has over 75 employees during the high season and four business establishments: Caravane 185 in Saint-Antonin, near Rivière-du-Loup (head office), Caravane Marco in Québec city, Caravane 185 in Matane and Caravane 185 in Edmundston, New Brunswick.

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Caravane 185 Sells 100% of Its Shares to New Owner.

Caravane 185 called on the advisory services of Raymond Chabot Grant Thornton’s M&A and Corporate Finance team to advise on the company’s sale.

Gilles d’Amours stated, “Thanks to Raymond Chabot Grant Thornton’s experts, I was able to evaluate several scenarios, including the partial sale of some dealerships or the sale of all dealerships to the same buyer. I opted for the latter scenario, which allowed me to complete the transaction quickly and efficiently.”

To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our M&A team.

About Raymond Chabot Grant Thornton

Our leading mid-market focused financial advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities.

Raymond Chabot Grant Thornton is a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization. Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 2,800 employees. As a member firm of the Grant Thornton International network and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services network made up of 56,000 people in over 140 countries.

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29 Oct 2020

Raymond Chabot Grant Thornton’s Corporate Finance team is pleased to announce the successful sale of Alasko Foods Inc. to Groupe Commensal Inc.

Founded in 1989 and based in Montréal, Quebec, Alasko Foods Inc. (“Alasko”) is a leader in commercializing high quality organic and conventional quick-frozen fruits and vegetables, with products sold in Canada and the United States as well as Europe, Asia and the Middle East. Alasko’s strong reputation for providing superior products and world-class service to its customers makes it a premier partner of industry leaders. Alasko is a turnkey solutions provider across multiple channels, with an extensive track record of serving blue chip retail, food service and industrial customers.

Alasko called on the expertise of Raymond Chabot Grant Thornton’s Corporate Finance team to advise on the sale process.

Groupe Commensal Inc. (“Commensal”), specialized in food processing, has been a pioneer in the vegan and vegetarian retail and food service market for over 40 years. Founded in 1977, the company’s mission has always been to develop product lines that are vegan and vegetarian, locally Canadian and better for you.

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Alasko Foods is acquired by Groupe Commensal.

Its products can be found in more than 1,000 supermarkets and specialty shops across Quebec. Its commitment has always been to develop high quality products at affordable price points, helping more families eat healthy.

Over the years, Commensal has branded over 50 retail products like soups, sauces, ready-to-eat meals and ready-to-cook vegan proteins, and has been a large contributor to the development of the wellness food sector in Canada.

“The new acquisition by the Commensal team will allow Alasko, one of the largest frozen fruit and vegetable importers in Canada, to have active owners that care about their clients and focus on key deliverables. We ensure the confidence that clients and suppliers alike demand”, says George Kyres, President of Groupe Commensal. “Our pledge is to scour the globe to source the best available frozen fruits and vegetables and collaborate with those that share our passion for quality. On behalf of the team, we would like to thank our suppliers and our clients for their patience as we finalized the change in ownership. We remain humbled by all the love and support that everyone has demonstrated to us and for that we remain eternally grateful.”

To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our deal team.

About Raymond Chabot Grant Thornton

Our leading mid-market focused financial advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities.

Raymond Chabot Grant Thornton is a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization. Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 2,800 employees. As a member firm of the Grant Thornton International network and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services network made up of 56,000 people in over 140 countries.

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18 Sep 2020

Raymond Chabot Grant Thornton’s Corporate Finance team is pleased to announce the successful refinancing transaction of Pasta Romana Foods and Pizza Romana (hereinafter individually ‘‘Pasta Romana’’ or ‘‘Pizza Romana’’, and together the ‘‘Company’’).

Pasta Romana is a family-owned and operated business founded in 1996 by Mr. Bernard Filippone and his sons, and headquartered in Montréal, Quebec, Canada.

For over 23 years, Pasta Romana has been offering a wide variety of high-quality fresh and frozen pastas, catering to big box retailers through both the Pasta Romana brand and its private label segment.

More recently, the Company, through its new entity Pizza Romana, has leveraged its proven expertise in operations and product development by acquiring a state-of-the-art manufacturing facility to add high-quality frozen pizzas to its portfolio, which has seen tremendous momentum and success since inception.

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Pasta Romana concludes a refinancing transaction to support growth

The Company strives to never waiver from what has made it successful: products prepared as they would be at home and made fresh without any compromise to quality. Today, Pasta Romana and Pizza Romana have grown to become significant players in the Canadian food manufacturing industry, operating two state-of-the-art plants in Montréal North and in Lachine, where the Company has the capacity to produce 2,300 kg of pasta, 1,000 litres of sauce and 3,000 kg of pizza on an hourly basis.

The Company called on Raymond Chabot Grant Thornton to review and optimize its financial structure. Raymond Chabot Grant Thornton’s Corporate Finance team acted as exclusive financial advisor to the Company which now has a streamlined, adaptable and flexible structure that will allow it to seize new business opportunities in a very active industry.

“The Raymond Chabot Grant Thornton Corporate Finance team significantly simplified our refinancing process.” states Mr. Michael Filippone, Vice President of Operations at Pasta Romana. “With their knowledge, expertise, and large network in the debt market, Mark and his team allowed our Company to obtain the most favourable terms and conditions, as well as the financial flexibility to sustain our growth. In addition to their deep understanding of our industry, they managed the entire process in a very professional manner and allowed for a seamless process from start to finish. We will certainly reach out to them on our next transaction.”

To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our deal team.

About Raymond Chabot Grant Thornton

Our leading mid-market focused corporate finance advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities.

A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,600 professionals. Raymond Chabot Grant Thornton is a member company of Grant Thornton International and the Canadian counterpart of Grant Thornton LLP. Our global footprint spans across more than 135 countries with over 53,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.

Deal team:

Mark Rossi
Simon Marcotte-Légaré
Justine Bergeron