LAVAL, QC, July 16, 2024 /CNW/ - Regal Confections ("Regal"), a seasonal specialist and leading Canadian distributor of global candy, freeze pops, chocolate confectionery and premium indulgent foods, today announced the acquisition of Mondoux Confectionary ("Mondoux" or the "Company"), a market leading Quebec based confectionery provider with its Sweet Sixteen gummy line and its Giacomo Easter chocolate range.
Mondoux was founded in 1967 by Normand Mondoux. Jean and Yvan Mondoux joined the Company as the second generation in 1975 and 1982 respectively, and the third generation, comprised of Marie-Josée, Jean-Philippe, and Sébastien Mondoux, joined the management team in 2020. Today, Mondoux is led by a professional management team and operates out of a 90,000 square foot facility in Laval, Quebec, which houses the company's head-office and co-packing operation. The 22,000 square foot Giacomo chocolate factory, also in Laval, is a stone's throw away from the Company's headquarters.
Over the years, Mondoux has grown to become a leader in the Quebec Convenience & Gas ("C&G") channel with 77 trucks delivering its assortment in the province, the Maritimes and in Ontario. In 2010, Jean Mondoux created the iconic Sweet Sixteen brand by mixing 16 distinct premium candies in a bag. Today, Sweet Sixteen is the best-selling gummy, licorice, and marshmallow brand in Quebec. Mondoux continues to strengthen its market presence by expanding the Sweet Sixteen product range and reach, enlarging its direct to store delivery system and by offering well-established brands in its sales channels under various distribution agreements.
"We are incredibly proud of the impact our Company has had for six decades, creating fun and life-long memories for consumers. We are excited to partner with Regal to uphold our family values and foster growth for our customers and brand partners, relying on Regal's ~65 years of experience representing prestigious brands via its coast-to-coast coverage model across all sales channels." says Jean Mondoux, Chairman of Mondoux.
"Confectionery Mondoux and the Mondoux family have a long and well-earned reputation in the industry. This family-owned business has a rich culture and legacy. Over the years, we've been a friendly competitor and supplier to Mondoux. They've carved an enviable market niche in Convenience & Gas, especially in Quebec. In fact, many of our own products distributed in the Quebec C&G channel are sold through Mondoux's franchise delivery model. Sweet Sixteen is a true complement to our product range and allows us to deepen our presence in the Everyday confectionary category across Canada. I am pleased to partner with the Mondoux family and welcome Jean Mondoux to Regal's Board. Mondoux's President, Mathieu Pilon, will continue in his role and will lead Mondoux as a separate entity." says Hani Basile, President and CEO of Regal.
The transaction was supported by Clearspring Capital Partners ("Clearspring"), a leading Canadian private equity firm focused on growing mid-market companies, Regal's shareholders and banking partners, as well as the Mondoux family and management team who will become partners in Regal.
"Regal has been on an aggressive campaign to reinforce its leadership position in Canada. This is the third acquisition by Regal in the past three years, bolstering our owned brand portfolio which includes Mr. Freeze® and Koala®, and elevating our service levels and reach through Mondoux's unique direct store delivery infrastructure." says Milap Choksey, COO of Regal and Partner at Clearspring.
"This transaction is aligned with Clearspring's strategy of helping market leaders become even more successful. Mondoux's penetration within the C&G channel is impressive and we look forward to supporting Mondoux expand their product offering nationally, leveraging Regal's expertise in scaling brands. We are grateful to the Mondoux team for their partnership and the trust they have placed in Regal and Clearspring." says Will Wang, Vice President at Clearspring.
About Regal Confections
Regal Confections, known industry-wide as "Your Candy Experts", was founded in Montreal in 1962. It is a leading independent distributor of global candy and chocolate confectionery brands in the nation. Regal manufactures nut-free chocolate products through its Chocolat Jean-Talon division and freeze pops (e.g. Mr. Freeze) through its Kisko Products division. Regal also distributes fine imported and domestic gourmet foods through its Euro-Excellence division. Regal operates with over 500,000 sq. ft. of space across its sales offices, distribution centers, co-packing facilities and manufacturing centers. During peak periods, the company employs more than 400 people across 7 locations. Regal sells through all major distribution channels in Canada including club, grocery, drugstores, mass merchants, convenience stores, dollar stores, and specialty independent stores.
For more information, visit www.regalcandy.com
About Mondoux Confectionary
For three generations, the Mondoux family have lived by their belief in the joy of sharing every bite. It all started with a big dream and a little storage space in the garage of the Company's iconic founder, "Papi" Mondoux. Nurtured by passion and determination, the dream grew into one of the largest independent confectionary distributors in the country, with leading brands including Sweet Sixteen, Giacomo and Yoma (Belgian chocolate). Mondoux's brand ambassadors (i.e. franchised distributors) allow the Company to offer turnkey services and reach highly underserved regions in Eastern Canada. Today, Mondoux serves a broad customer base with over 200 employees and facilities totaling more than 115,000 sq. ft.
For more information, visit www.mondoux.ca/en
About Clearspring Capital Partners
Clearspring Capital Partners is a leading Canadian private equity firm that invests in and acquires medium-sized companies through buyouts, growth and acquisition financings, going private transactions, industry consolidations, recapitalizations and other types of transactions. Clearspring has raised nearly 600 million dollars in capital since it was founded in 2002. Clearspring focuses on established and stable industries and companies with strong market positions and skilled management teams. The Clearspring team works out of its offices in Toronto and Montreal in close collaboration with the management teams of its portfolio companies in order to ensure the creation of added value.
For more information, visit www.cscap.ca
SOURCE Regal Confections
For further information: Regal Confections, Hani Basile, President and CEO, (450) 628-6700 ext. 1101 [email protected]; Clearspring Capital Partners, Larry Stevenson, Managing Director, (416) 868-4512, [email protected]
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