TORONTO, ONTARIO--(Marketwired - Oct. 19, 2016) - Blue Goose Capital Corp. ("Blue Goose"), a privately-held, Canadian-based protein and organic food company, today announced a strategic $20 million investment in the company by Dundee Corporation ("Dundee") (TSX:DC.A) and Serruya Private Equity Inc. ("SPE"), a family-managed venture group based in the Toronto area.
The investment by Dundee and SPE will provide Blue Goose with capital to help fund its ongoing operations, growth strategy, and potential future acquisitions.
"This strategic investment by two very prominent partners provides significant capital to help accelerate our growth strategy," said Ben Nikolaevsky, President and CEO of Blue Goose. "As a leader in the organic proteins market, which is one of the fastest growing segments of the food industry, we are now in a better position to improve our operations and to be an industry consolidator."
In connection with its investment, SPE will also be offered a seat on the Blue Goose board of directors.
The Serruyas are the founders of the Yogen Fruz retail chain, which revolutionized the frozen yogurt retail industry. Since then SPE has established a proven track record in the food industry, having built Coolbrands Inc. into one of North America's largest frozen dessert consumer packaged goods (CPG) manufacturers, and more recently having successfully turned around and sold multi-brand retailer Kahala Corp. to MTY Group for approximately $400 million. The SPE Group continues to own several global food brands including Yogen Fruz, Pinkberry and Swensen's.
"We are excited about the opportunity to partner with Blue Goose," said Simon Serruya, Partner, SPE. "Our investment and involvement at the board level allows us to help Blue Goose continue to build on its position as a leader in the Canadian organic and natural food industry."
"Blue Goose is one of our flagship investments and we are very excited about its future growth prospects," said David Goodman, President and CEO, Dundee Corporation. "The joint investment with Serruya Private Equity provides additional growth capital along with the ability to leverage the expertise and experience of the Serruya family. We look forward to working in partnership with them and the management team at Blue Goose as they continue the implementation of their growth strategy."
About Blue Goose Capital Corp.
Blue Goose is a vertically integrated company focused on the production, distribution and sale of organic and natural beef, chicken and fish. Its mandate focuses on producing and distributing organic protein by raising livestock in an organic environment, with feed from organically grown crops and no substrates or animal by-products in the feed, and by employing the highest standards of animal husbandry and welfare, with no use of artificial growth hormones or antibiotics.
Blue Goose owns over 45,000 acres of farm land in British Columbia, and is a recognized consumer brand with beef, chicken, and fish products distributed to over 640 retail locations across Canada, making Blue Goose well-positioned to capitalize on the high-growth organic food market.
About Dundee Corporation
Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.
About Serruya Private Equity
Serruya Private Equity (SPE) is a family managed venture group based in the Toronto area that oversees the investment activities of the Serruya family. The Serruya brothers made their name by building a frozen yogurt empire including the world leading chain, Yogen Früz. The Serruya brothers also built Consumer Packaged Goods (CPG) conglomerate Coolbrands International, which became the third largest frozen dessert CPG manufacturer in North America.