CFC-led investor group acquires cake manufacturer Maison Isabelle

Canada-based Champlain Financial Corporation (CFC) led investor group has announced the acquisition of Quebec bakery Maison Isabelle under the newly formed investment platform, Humanity Bakeries.

Humanity Bakeries is a Quebec-based investment platform focused on the provincial bakery and pastry industry.

Established in 1990, Maison Isabelle is a Trois-Rivières company that manufactures four-quarter-style cakes sold across Canada.

The financial details of the deal have not been disclosed.

As part of the Humanity Bakeries, Maison Isabelle is expected to combine its expertise with Boulangerie-Pâtisserie Dumas, a Canadian firm acquired by Champlain last year.

Dumas is engaged in the production and distribution of puff pastry, croissants and vol-au-vent products.

Champlain said that the companies forming part of Bakery Humanity will be led by Dominique Bohec, who is currently the president and shareholder of Maison Isabelle.

Bohec said: “In 2015, when I acquired Maison Isabelle, my vision was to bring our industry together by creating a platform under the name Bakery Humanity to build a dominant player in the industry.

“When Champlain approached me, I really saw the opportunity to join forces to achieve this goal. Each business owned by Bakery Humanity will be operated independently and must have a sustainable development plan based on the environment, respect and social contribution.”

In June 2018, a group of companies comprising Fonds de solidarité FTQ, Fondaction and Investissement Québec partnered with the Champlain Financial Corporation to purchase Baxters Canada, a manufacturer of canned soups and sauces based in Saint-Hyacinthe, Québec.

Fonds, Fondaction and Investissement Québec are set to become Baxters Canada shareholders as part of the initiative and each company is expected to invest a sum of $8m.

Baxters Canada is the Canadian subsidiary of the UK-based Baxters Food Group.

The company is a leading soup manufacturer in Canada and a recognised key player in the country’s private-label products market.