“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,” said Casey Lynch, managing director of Altamont.
“We believe our industry experience and dedicated operating partners can provide value-added support to management as they continue to pursue growth opportunities.”
Founded in 1970, Maxi has developed an extensive portfolio of frozen poultry products. Its products are branded under the Yummy and Dino Buddies name. The products under the Dino Buddies branding are known for their distinct shapes and packaging, which have been successful among a younger audience and have found a growing market among millennials.
Maxi will now be overseen and backed by Altamont’s operating partner and chief executive of Tall Tree Foods, Tim Bruer. He will offer support and lead the existing management teams as executive chairman in order to drive continued growth across the US, as well as developing new products. Maxi will continue to operate out of St-Lin-Laurentides, Quebec.
Bruer commented: “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.”
Altamont is a private investment firm based in the San Francisco Bay area of California, US, with more than US$2 billion of capital under management. Its focus is on investing in middle market companies where it can team up with lead management teams to help its partners reach full potential.
The Royal Bank of Canada, National Bank of Canada and Bank of America Merrill Lynch provided funding for the acquisition. Houlihan Lokey acted as the exclusive financial advisor for Maxi.