Buttered or Plain? Champlain Acquires Bad Monkey

Champlain Financial Corporation and a group of co-investors have acquired Bad Monkey, a maker and marketer of popcorn and other confectionery products.

Bad Monkey’s ready-to-eat and microwavable popcorns are sold through major grocery retail chains, convenience stores, and drugstores. The company was founded by brothers Joseph and Fabio Zeppilli (in their youth, their mother nicknamed the energetic brothers as “bad monkeys”).

The Zeppilli brothers will remain co-CEOs of Bad Monkey in partnership with Champlain Financial. “This exciting new partnership will allow Bad Monkey to reach amazing new levels in a very short period,” said the two brothers in a released statement. “Our goal is to be the industry leader in North American popcorn production and distribution, and we are absolutely confident that with the help of Champlain Financial, this is going to happen.”

Post-closing, Champlain Financial will assist the company in advancing product development and widen its distribution network across Canada and in the United States. Andre La Forge, an advisory partner at Champlain Financial and the current chairman of Spencer Support Group, a Montreal-based provider and private label manufacturer of value-based apparel and a portfolio company of Champlain Financial, will join Bad Monkey as a member of the company’s board of directors.

“I’m looking forward to working alongside the management team to help accelerate Bad Monkey’s growth,” said Mr. La Forge. “Bad Monkey’s strong reputation for creative and fun products will continue to fuel its growth throughout Canada and eventually the US.”

Champlain Financial invests in companies with EBITDAs ranging from $3 million to $10 million. Sectors of interest include consumer, retail distribution, healthcare and niche manufacturing. The firm is led by its managing partner Pierre Simard, who founded the firm in 2004, and is headquartered in Montreal.

© 2020 Private Equity Professional | November 17, 2020

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