Clairvest Group has acquired a minority stake in Redstone Food Group, a Canada-based supplier of in-store bakery items.
Financial terms of the transaction were not disclosed.
Founded in 1972, Redstone Food Group operates several facilities in the Greater Toronto Area, serving both retail and food service markets across Canada and the US.
Rob Wheeler, who acquired the company from the Gorecki family in 2003, will remain the majority shareholder.
With 35 years of experience in the food manufacturing sector, Wheeler currently serves as the president and CEO of Redstone Food Group.
The company offers an array of baked goods through three key brands: Redstone, Le Bon, and Tasty Selection.
Redstone specialises in artisan breads and frozen dough products, while Le Bon, which was acquired by Redstone Food Group in 2019, is known for private label garlic bread and frozen dough products.
Tasty Selection, which was joined Redstone Food Group in 2023, provides a variety of baked treats, including coffee cakes, muffin batters, cookies, and loaf cakes.
Clairvest managing director Robbie Isenberg said: “We are thrilled to partner with Rob in this minority partnership deal.
“With a clear vision, operational excellence, and leading quality, Redstone is well positioned to leverage exciting opportunities in the market, and we look forward to fuelling their continued success.”
Wheeler added: “This partnership with Clairvest is about more than just capital; it is about bringing together expertise and resources to accelerate our growth across North America.
“We are excited to embark on this journey with Clairvest as we scale, innovate and enhance the value we deliver to our customers.”
This investment marks Clairvest's 67th platform investment and the first for CEP VII, a $1.2bn investment pool, with $300m contributed by Clairvest Group.
