Toronto, March 21, 2016: Douglas Buchanan, Managing Director of Granite Partners L.P., announced today that, Granite Partners has made a major equity investment in Mike & Mike’s Organics, based in Woodbridge, Ontario.Mike and Mike’s is Ontario’s only exclusively certified-organic distributor of fresh fruits and vegetables, delivering more than 300 kinds of fresh fruits and vegetables including its own line of dried fruits, nuts, and seeds.
Mike and Mike’s delivers to more than 150 retailers in the province including major grocery chains and many independent and national food stores.
“We are very pleased with our platform investment in Mike & Mike’s and in helping Mike Fronte and Mike Dattoli to expand their business in a new and growing segment of the food industry,” said Buchanan. Granite intends to make additional add-on acquisitions in the organic and natural food industries.
Granite, founded in 1996, is Canada’s leading boutique private equity firm and has an unparalleled track record of helping owners of profitable mid-sized businesses (revenues of $10 million to $100 million) build upon and unlock the value they have created in their businesses.
Terms of the deal were not released.