Private-equity firm Catterton Partners has bought a controlling stake in Canadian frozen produce group Alasko Foods.
Catterton said the terms of the deal would not be disclosed but explained it would look to expand the business in Canada and the US.
“With its broad product offering, strong customer relationships and proven operating model, Alasko is extremely well positioned in the marketplace,” said Catterton operating partner Marc-David Bismuth. “We look forward to partnering with the Alasko team and leveraging our consumer expertise to capitalize on the significant expansion opportunities we see in Canada as well as in the US, which has a large and growing frozen fruit and vegetable market.”
Alasko’s products are sold under its namesake and Moov brands and the company also produces lines under private label.
“Over the past 20 years, we have built Alasko into a strong, dynamic company, with very talented people. I am very proud of what our team has accomplished and equally excited about our future with the strategic and financial support from Catterton,” said Alasko chairman Platon Gavrielatos.
Catterton’s food interests include investments in Breyers Yogurt Co. and waffle maker Van’s Foods.