JUNE 1, 2023 – Yellow Point Equity Partners IV LP (“Fund IV”) is pleased to announce that it has successfully exited its investment in Foley’s Candies Limited Partnership (“Foley’s” or the “Company”). On June 1, Fund IV sold its stake in Foley’s to Puratos, an international food ingredients group specializing in the bakery and chocolate sectors.
Foley’s is a leading Vancouver-based supplier of fine quality chocolate and confectionary products for the bakery ingredient, bulk retail, and private label chocolate industry segments. The Company has grown to become one of Canada’s largest chocolate producers through its commitment to quality, customer service, and value.
Brian Begert, Managing Partner of Yellow Point Equity Partners said, “partnering with Foley’s has yielded significant value for all stakeholders. I am pleased with the Company’s success, and to have had the opportunity to help Foley’s grow into a nationwide leader in the chocolate manufacturing industry. I am confident that Foley’s will continue to build on its strong positioning and drive success for its shareholders, customers, and dedicated employees.”
Andrew Elliott, CEO of Foley’s, added, “Yellow Point proved to be a trustworthy, experienced, and supportive partner, providing invaluable assistance in accelerating Foley’s expansion. Our partnership has empowered us to accomplish vital strategic objectives, including completing an acquisition that allowed us to enter the branded chocolate segment and developing western Canada’s preeminent confectionary research and development facility. The cultural and strategic alignment between our organizations has yielded significant benefits for Foley’s, which will endure long into the future.”
Foley’s remains dedicated to its mission of sharing happiness through chocolate while continuously striving for growth and innovation. The Company looks forward to the promising future ahead as it builds upon its successes and continues to deliver value to all of its stakeholders.
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Yellow Point Equity Partners has been actively helping its management partners build better businesses for 19 years. The firm invests in outstanding management teams of later-stage growth companies based primarily in Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies.
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