Altamont takes over Maxi Canada

US-based private investment firm Altamont Capital Partners has acquired Canadian frozen poultry product manufacturer Maxi Canada (Maxi).

Established in 1970, Maxi seeks to benefit from oversight and support led by Altamont's operating partner and Tall Tree Foods CEO Tim Bruer.

Bruer said: "The Dino Buddies brand has great growth potential and we look forward to expanding the distribution of existing products as well as exploring new products and adjacencies."

Bruer will be leading the existing management team as executive chairman to ensure a continued growth across the US markets, as well as focus on development of new products. The company's plant and office will remain in St-Lin-Laurentides, Canada.

Altamont Capital Partners managing director Casey Lynch said: “Maxi has developed a suite of great tasting and desirable products that consumers love and we are thrilled to partner with the team to continue to deliver great products.

“We believe our industry experience and dedicated operating partners can provide value-added support to management as they continue to pursue growth opportunities.” 

Royal Bank of Canada, National Bank of Canada and Bank of America Merrill Lynch have offered financial support for Altamont Capital Partners acquisition.

Houlihan Lokey served as the exclusive financial adviser to Maxi.