Toronto, Ontario – April 4, 2022 – TorQuest Partners (“TorQuest”) is pleased to announce that it has completed an investment in Johnvince Food Group Inc. (“Johnvince” or the “Company”), a leading processor and distributor of snack nuts, confectionary, dried fruit, and other related products.
Founded in 1973 and based in Toronto, ON, Johnvince’s sales consist of branded, bulk, and private label products to leading Canadian and U.S. retailers. The business was founded by Vincenzo Pulla and is currently run by his son, Joe Pulla, who has been with the business for over 40 years. Under the leadership of Joe and the management team, Johnvince has become the leading player in the Canadian market, where they have the exclusive and perpetual right to the Planters® brand, with strong growth prospects in a non-cyclical and on-trend food category. The Company has an experienced team of over 1,300 employees primarily located in the Greater Toronto Area, but also operates distribution centres in Montréal, Quebec and Warren, Ohio and has additional manufacturing plants in Cobourg and Belleville, Ontario.
Following the TorQuest investment, the Company will continue to be run by Joe and his senior management team, who remain significant shareholders and are TorQuest’s partners in the investment.
Brent Belzberg, C.M., Senior Managing Partner at TorQuest, said, “This is the seventh platform investment for TorQuest Partners Fund V and continues to showcase our well-established strategy of investing in great Canadian businesses. We have known Joe Pulla for over 15 years and have tremendous respect for what he and his team have built. We are excited to partner with Joe and support the business through its next phase of growth.”
Joe Pulla, CEO of Johnvince said, “We are excited to be taking on a strong new partner who believes in the significant growth potential of our business. I am extremely proud of the accomplishments of the Johnvince team and believe it is the right time, and TorQuest is the right partner, to help build the business from here.”
About Johnvince Food Group Inc.
Established in 1973, Johnvince is a leading processor and distributor of snack nuts, confectionary, dried fruit, and other related products through branded, bulk, and private label sales to leading Canadian and U.S. retailers. The company has a workforce of over 1,300 employees across North America. For more information, please visit johnvince.com
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$3 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.375 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit torquest.com.