Avrio Ventures Management Corporation

Avrio Ventures Management Corporation

October 02, 2012 08:00 ET

Avrio Capital Receives 2012 Private Equity 'Deal of the Year' Award

CVCA Chooses Canada's Most Experienced Agriculture Investor

TORONTO, ONTARIO and CALGARY, ALBERTA--(Marketwire - Oct. 2, 2012) - Canada's Venture Capital & Private Equity Association (CVCA) is pleased to announce that Avrio Capital Inc. is the recipient of CVCA's 2012 'Deal of the Year Award' for the private equity category.

Established in 1998, the purpose of the CVCA's 'Deal of the Year Award' competition is to promote, highlight and celebrate the achievements of CVCA members who have had outstanding investment success. The selection process focused on members with the most significant investment return during the last twelve months ending June 30, 2012. The CVCA celebrates two 'Deal of the Year' awards, one for venture capital and another for private equity.

"It is my pleasure to announce Avrio Capital as the winner of CVCA's 'Deal of the Year' Award in the private equity category, for its investment in Brookside Foods Ltd," said Richard Kinlough, Chairman of CVCA's Awards Committee and Managing Director, Group Head, CIT Corporate Finance, Canada.

Avrio invested in Brookside Foods in 2006 and the company was acquired by The Hershey Company (NYSE: HSY) in February 2012 for $175M. Over the course of the investment, total invested capital of approximately $7 million generated an internal rate of return (IRR) of 54 per cent, representing approximately 7.5 times the original investment.

"We're thrilled to have been chosen for this honour and we appreciate the CVCA's support in highlighting innovative, best in class Canadian companies such as Brookside Foods," said Aki Georgacacos, Avrio Capital Ltd. "Avrio continues to pursue its investment thesis based on the importance of innovation in food and agriculture in addressing global challenges related to health, wellness and sustainability. We are actively looking for investment opportunities, and look forward to investing in the next Brookside story over the course of our next fund."

About Avrio Capital Inc.

Avrio Capital was established in 2006 to identify and invest in innovative food and agriculture companies that provide solutions to global challenges in the areas of health, wellness and sustainability. Avrio is a hands-on investor who works alongside its portfolio companies to provide the support and resources needed to transform emerging companies into successful globally competitive enterprises. Since 2002 the team has invested in more than 36 companies with operations ranging from crop inputs and food production through to value added processes such as fermentation and synthetic biology. The team's breadth and depth of experience in operational, transactional and sectorial issues allows them to maximize each portfolio company's opportunity for success. www.avriocapital.com

About Brookside Food Ltd.

Brookside is a chocolate confectionary company with great tasting chocolate products based on a unique formula for making chocolate-covered fruit juice pieces. Brookside holds patents that enable it to make the centres of these distinctive products from real fruit juice. The company also makes traditional chocolate-covered nuts and dried fruit. The products are made at two facilities in British Columbia and Quebec. The Brookside product line is primarily sold in the U.S. and Canada in a take home re-sealable pack type. www.brooksidefoods.com

About CVCA

The CVCA - Canada's Venture Capital & Private Equity Association, was founded in 1974 and is the association that represents Canada's venture capital and private equity industry with over 1900 members. CVCA members have over $88 billion in capital under management, in three distinct market segments: buyouts, mezzanine and venture capital. The CVCA fosters professional development, networking, communication, research and education within the venture capital and private equity sector and represents the industry in public policy matters. www.cvca.ca

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