“We are excited to partner with the founding Bellemare family, CEO Jeff York and the rest of the management team of Farm Boy, and we believe the company is very well positioned for future growth,” said Chris Hadley, Managing Director of Berkshire Partners. “Farm Boy’s stores deliver a unique fresh and friendly shopping experience compared to other food retailers. The company has exacting standards for freshness and quality, which translates into customer value and loyalty.”
Farm Boy is an eastern Ontario, food retailer recognized for its produce, meat, bakery, cheese and fresh kitchen prepared items. The company currently has 13 stores in the Greater Ottawa, Cornwall and Kingston regions of Canada. Farm Boy was founded in 1981 and is headquartered in Ottawa, Canada (www.farmboy.ca).
“Berkshire’s long history of joining forces with family-owned businesses to create growth, combined with its experience investing in grocery retail give us great confidence that we have found the right partner to expand our business,” said Vice President and co-founder Jean-Louis Bellemare.
Berkshire Partners invests from $50 million to $500 million of equity capital in mid-sized companies operating in the consumer products, retail, business services, industrial manufacturing, transportation and communications sectors. The firm was founded in 1986 and is based in Boston, MA (www.berkshirepartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-14-12