MONTREAL, Dec. 07, 2017 (GLOBE NEWSWIRE) — Walter Capital Partners is pleased to announce that it has increased its investment in Mayrand and AlimPlus Inc., leading regional players in the dynamic Quebec food wholesaling and distribution markets. Mayrand operates in the fast-growing discount warehouse segment, offering a wide selection of grocery, fresh produce, frozen, dairy and kitchen supplies from a brand-new location in Anjou. AlimPlus is a food distributor with three strategically-located distribution centres servicing the Gatineau-Montreal-Quebec City corridors.
Walter Capital initially invested in these two companies in 2014, recognizing the growth opportunities in the food sector. With this additional investment in 2017, Mayrand and AlimPlus will further accelerate their growth while continuing to benefit from Walter Capital’s operational, data analytics and digital know-how.
‘‘At Walter Capital, we invest for growth and we are excited about what the future holds for these well-managed regional leaders. Mayrand and AlimPlus are uniquely positioned to offer a differentiated service in their respective market segments and capture additional market share,’’ said Éric Phaneuf, Managing Partner at Walter Capital. “With growth comes demand for more talent and new opportunities for driven individuals, and we are excited about what we will be able to accomplish with our winning teams.”
Mayrand launched a successful new store concept and design in 2016 with a relocation to their new premises in Anjou. Catering primarily to SMEs, Mayrand is also open to the general public without a membership fee. Mayrand expects to expand market share in the near term through continued organic growth as well as the opening of more retail locations over the next several years, starting in the Greater Montreal Area. The company recently appointed Danièle Bergeron as President and CEO, adding depth in retail expertise and leadership experience to the team. Bergeron is an effective integrator with a track record of success rallying performance-driven teams to achieve ambitious growth plans.
AlimPlus boasts modern installations with capacity to grow its food distribution business through continuous expansion of its product offering and geographic penetration. In a fragmented industry, AlimPlus is well-positioned to participate in market consolidation and increase its regional leadership position. Earlier this year, AlimPlus completed another acquisition by joining forces with Poulets Riverview Inc., to create one of the largest privately-owned food distributors in Quebec.
“Walter Capital has been an ideal, strategic partner for us, with similar entrepreneurial values and the expertise to help bring our companies to the next level,” said Daniel Le Rossignol, Chairman of Mayrand and AlimPlus, and the largest shareholder. “We are eager to execute on our growth initiatives and further cement our position in the Quebec food wholesaling and distribution markets.”
ABOUT WALTER CAPITAL
Walter Capital Partners (Walter Capital) is a private equity firm part of Walter Financial and the Walter Group of Companies (Walter Group). Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership experience of its Managing Partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital has a solid international network.
Walter Capital Partners
Éric Phaneuf, Managing Partner