Deals this week: Vitalus Nutrition, Gay Lea Foods, C. Dean Metropoulos
Vitalus Nutrition Inc and Gay Lea Foods have entered a joint venture (JV) agreement.
Pursuant to the terms of the agreement, the JV will work on upgrading an existing food manufacturing facility, increasing drying capacity in Western Canada and establishing a new butter production unit.
The agreement enables the two partners to process butter and other dairy ingredients in Manitoba, Canada.
Gay Lea Foods plans to further expand its presence in the Canadian dairy industry by acquiring Stirling Creamery.
Pursuant to the agreement, Gay Lea Foods will continue its operations at Stirling Creamery’s plant, enabling the former to meet the current demand for butter in the Canadian dairy market.
C. Dean Metropoulos plans to invest up to $146m in UTZ Quality Foods.
Following the transaction, UTZ Quality Foods owner the Rice Family will remain as a majority shareholder of the company.
UTZ Quality Foods plans to use the investment to acquire Golden Enterprises.
Dundee Corporation and Serruya Private Equity have invested $15.6m in Blue Goose Pure Foods.
The food company plans to use the investment further advance its ongoing operations, and plan its growth and future acquisitions.
Tovala (Maestro Food) plans to run a food truck and market its oven functionality for the customers across Chicago, US, through the funds raised from a seed funding round.
The company has raised $1.6m from the funding round, which was led by Origin Ventures.