Ya Ya Foods Corp., a family-owned contract manufacturer of plant-based beverages in Canada, has received an undisclosed investment from Chicago-headquartered Entrepreneurial Equity Partners.
The consumer foods-focused private-equity firm did not disclose the size of the stake it has taken in Toronto-based Ya Ya Foods, nor the financial terms, but said the Abbas Al-Ali family will retain “significant ownership”.
Mark Burgett, a managing partner at Entrepreneurial Equity Partners, said: “Ya Ya Foods has established itself in the aseptic food and beverage space by being able to consistently meet rigorous customer demands for quality and safety. However, what really sets Ya Ya Foods apart as a market leader is their ability to exceed expectations with flexible solutions in a variety of formats, configurations and capabilities, and their culture of innovation.”
Ya Ya Foods, founded in 2008, supplies “multi-national beverage companies across North America”. The company’s capabilities cover aseptic food and drink products such as plant-based milk and dairy beverages, as well as animal-free juices, sports drinks and broths.
Its president and CEO, Yahya Abbas, added: “We were drawn to [Entrepreneurial Equity Partners] as a partner because of their industry experience, specifically in the contract-manufacturing space, their reputation for partnering with entrepreneurs and family businesses, and our shared vision for growth going forward. We are excited for what lies ahead with our partnership.”
Kronos Foods, a Mediterranean products supplier in the US which merged with local family-owned peer Grecian Delight Foods last year, falls under the Entrepreneurial Equity Partners investment umbrella.
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The private-equity firm’s other investments in packaged foods include Sara Lee Frozen Bakery, which went on to purchase Superior Cake Products and Cyrus O’Leary’s Pies. It also own Daniele International, which has been merged with Creminelli Fine Meats.