Tricor Founders adds Saxon Chocolates to Ganache Gourmet

Tricor Pacific Founders Capital Inc. (Tricor Founders) has acquired Saxon Chocolates Inc., a Toronto based manufacturer of fine Belgian chocolate and a wide variety of other confectionery products focusing on gifting programs for specialty retailers. Saxon Chocolates was founded by Johan De Greef in 1994.

Tricor Founders made the investment in Saxon through Ganache Gourmet Inc. which also owns Totally Chocolate LLC.

Derek Senft, Managing Director of Tricor Founders led the transaction.

Collins Barrow provided transaction advisory services to Tricor Founds, Bryan & Caompnay LLP acted as legal counsel to Tricor Founders. Bank of Montreal provided debt financing for the acquisition.

Tricor Pacific Founders Capital Inc. is a family firm that invests its partners’ own capital and focuses on applying operating know-how in medium-sized food, beverage and consumer packaged goods businesses in order to build thriving businesses over the long term.

Tricor Founders’ investments are organized under three platforms:

  • Purewater Foods Inc. – a family of related specialty seafood and meats business including Presteve Foods and La Nassa Foods.
  • Ganache Gourmet Inc. – a family of related edible gifting business including Totally Chocolate and newly acquired Saxon Chocolates.
  • Freshstone Kitchen Inc. – a family of related prepared foods business including Fresh Selections and newly acquired Keybrand Foods.