Investors, Including Founders, Acquire Crofter’s Organic, Maker of Fruit Spreads
Power Sustainable Lios, a private equity fund, bought Crofter’s Organic, which the buyer calls “the largest supplier of organic jams, jellies, and spreads in North America.” Price was not disclosed.
The transaction includes co-investments from Farm Credit Canada, BMO Capital Partners and the founding Latka family, who will remain engaged as long-term partners in the company’s future.
Crofter’s was founded in 1989 by German immigrants Gerhard and Gabi Latka and is based in Parry Sound, Ontario. Crofter’s appears to be its sole brand, although it also makes private label products.
The investment will support the company’s next phase of expansion, including capacity enhancement, brand awareness through marketing investment, and product innovation, to meet growing demand from its branded and private label customers.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.