SPUD secures financing led by Walter Capital Partners

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By Ted Liu

Sustainable Produce Urban Delivery Inc. (SPUD) has raised $11.53 million led by Montreal based family office, Walter Capital Partners, which invested $8.64 million. Two unnamed Ontario investors invested $1.75 million.

Eric Phaneuf has joined SUD board of directors that also includes Peter van Stolk, CEO of SPUD, Jeff Booth, President & CEO of BuildDirect, Monique Wilberg, former COO of Gateway Casinos, and Todd Cherniak.

MOI Solicitors acted as legal counsel to SPUD.

Formerly known as Small Potatoes Urban Delivery Inc., SPUD has been backed by Renewal Funds and private investors.

In June 2010, a group of private investors led by the Treefort Group LLC recapitalized and acquired control of Small Potatoes Urban Delivery and affiliated companies at an enterprise value of approximately $7.5 million.

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