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PENFUND ANNOUNCES $20 MILLION INVESTMENT IN CANGRO FOODS INC.
TORONTO, Ontario (September 14, 2009) -
Penfund, an independent provider of junior capital to middle market
companies, announced today a $20 million debt investment in CanGro
Foods Inc. (“CanGro”), an affiliated portfolio company of Sun
Capital Partners, Inc. (“Sun Capital”). The terms of Penfund’s
investment were not disclosed.
“CanGro’s Aylmer and Del Monte brands have been market leaders for
generations and its products are staples in Canadian households,”
said Richard Bradlow, Partner, Penfund. Mr. Bradlow added “CanGro
has a strong and experienced management team supported by Sun
Capital’s significant operating resources and represents an ideal
investment for Penfund.”
Bruce Major, CanGro’s CEO said, “We are excited by our new
partnership with Penfund. They have a solid understanding of our
business and we look forward to working with them in the future.”
For further information, please contact:
Penfund
Richard Bradlow
(416) 645-3794
Email: richard@penfund.com
OR
Sun Capital Partners, Inc.
Jeremy Stone
(561) 394-0550
Email: jstone@suncappart.com
OR
CanGro Foods Inc.
Joseph Ruffo
(416) 253-3370
Email:
joseph.ruffo@cangrofoods.ca
About
CanGro Foods Inc.
CanGro is a
marketer and manufacturer of shelf-stable foods sold mostly through
the Canadian retail grocery channel. The Company manufactures and
markets tomato products under the Aylmer brand and fruit and
vegetable products under the Del Monte brand. CanGro also supplies
retailers with private label products and sub-licenses the Del Monte
brand in the frozen fruit and fruit snack categories.
Web site: www.cangrofoods.ca
About Penfund
Penfund is
an independent investment firm specializing in providing junior
capital to middle market companies. Penfund provides high yield and
mezzanine debt, control and minority equity, as well as bridge
facilities, standby lines, underwritten facilities and financial
guarantees. The firm is owned by its management team and is
currently investing its most recently established fund, Penfund
Capital Fund III. Penfund manages institutional funds sourced from
Canadian pension funds, insurance companies and family offices and
has invested more than $2.3 billion in over 220 companies since its
establishment in 1979.
Web site: www.penfund.com
About Sun Capital Partners,
Inc.
Sun Capital
Partners, Inc. is a leading private investment firm focused on
leveraged buyouts, equity, debt, and other investments in
market-leading companies that can benefit from its in-house
operating professionals and experience. Sun Capital affiliates have
invested in and managed more than 200 companies worldwide since Sun
Capital’s inception in 1995 with combined sales in excess of $40
billion. Sun Capital has offices in Boca Raton, Los Angeles and New
York, and affiliates with offices in London, Paris, Frankfurt, and
Shenzhen and Shanghai, China.
Web site: www.suncappart.com
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