The Fonds de solidarité FTQ, Fondaction and Investissement Québec have partnered with a group of private investors led by Champlain Financial Corporation to acquire Baxters Canada Inc.
The Fonds de solidarité FTQ, Fondaction and Investissement Québec are each investing $8 M in the acquisition and will become Baxters Canada shareholders..
Baxters Canada was the Canadian subsidiary of Scotland-based Baxters Food Group. Established in Saint-Hyacinthe, QB, Baxters Canada is one of the largest soup manufacturers in Canada, manufacturing products under the Baxters, Aylmer and Primo brands, and under private labels. Products include condensed and ready-to-serve soups, broths, sauces and ready-to eat pasta and meals in packets.
"We have an ambitious growth plan that includes acquisitions and geographic diversification,” said Daniel Cousineau, president and CEO of Baxters Canada. “That's why we're thrilled to team up with the Fonds, Fondaction and Investissement Québec, because all three partners share our vision and have the expertise and financial wherewithal to allow us to achieve our objectives."