FedDev Ontario Invests in New Product Development and Export Growth for Cambridge Food Manufacturer

CAMBRIDGE, ONTARIO--(Marketwired - April 29, 2016) - Federal Economic Development Agency for Southern Ontario
(FedDev Ontario)

Today, the Honourable Bardish Chagger, Minister of Small Business and Tourism, along with Marwan Tabbara, Member of Parliament for Kitchener South-Hespeler, announced an investment of up to $3 million in Grand River Foods Ltd., to increase production and explore new export opportunities. This announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.

A safe and reliable food supply contributes to the demand for Canadian agriculture and agri-food products in domestic and international markets. Through this investment, Grand River Foods Ltd. will expand its Cambridge-based processing operation by 16,150 square feet, and will install a new production line and spiral freezer. These efforts will enable the company to scale up, meet the needs of existing and new customers in Canada, and enter new markets in the United States.

This project is also expected to have spill-over benefits, impacting local meat, packaging and ingredient suppliers.

Quick Facts

-The repayable contribution of up to $3 million is being provided through FedDev Ontario's Investing in Business Growth and Productivity initiative. FedDev Ontario is providing this investment toward a total project cost of $14.3 million.

-It is expected that up to 50 full-time equivalent jobs will be created by 2017 and that the investment will leverage $1.32 million from the provincial government and $9.98 million from private sector investors.

-This is the second FedDev Ontario investment in Grand River Foods Ltd. In 2010, a repayable contribution of up to $854,540 enabled the company to acquire new production equipment.

-Established in 1999, Grand River Foods Ltd. manufactures over 200 private label food products, such as frozen burger patties, meatballs and chicken products that are sold across Canada, including at Loblaws, Costco Canada, M&M Meat Shops Ltd., Subway and Tim Hortons.

Quotes

"Our investment in Grand River Foods Ltd. is an example of how we are forging strong partnerships with businesses to support increased productivity in southern Ontario's key sectors. We are proud of the company's significant success at home and will support its growth into export markets."

• The Honourable Bardish Chagger, Minister of Small Business and Tourism

"Grand River Foods Ltd. is a major player in the food manufacturing sector across Canada. This support will enable the company to expand its production plant and invest in state-of-the-art equipment with the potential to increase productivity, competitiveness and market reach."

• Marwan Tabbara, Member of Parliament for Kitchener South-Hespeler

"This current investment of over $13 million will further enhance Grand River Foods' capacity and provide us the scale necessary to compete with the largest food processors in North America. We are proud to have grown our employment base of full-time jobs significantly over the past 10 years, and are happy to be located in the supportive Cambridge community."

• Dean Cebulski, President, Grand River Foods Ltd.

Associated Links

FedDev Ontario's Investing in Business Growth and Productivity Initiative

Grand River Foods Ltd.

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