LONGUEUIL, QUEBEC — Novacap, a Canadian private equity firm, has announced plans to acquire an interest in Noble Foods Nutrition, Inc., a Montreal-based co-manufacturer of nutrition and energy bars. Novacap believes the bar maker has displayed market-leading product development and wants to help the company expand into new markets.
“We firmly believe that blending their expertise with that of Novacap will enable Noble Foods to drive growth and become the preferred contract manufacturer in North America,” said Antoine Casimir, principal, Industries, Novacap.
The partnership will allow Novacap to explore new acquisition opportunities and expand its current manufacturing capabilities and reach, Mr. Casimir added.
Noble Foods’ three founders — Lee Shulkin, Eric Kimmel and Alex Dehkter — will continue in their current roles, as will the company’s current employees.
Mr. Shulkin expressed excitement about the company’s future and its partnership.
“With Novacap’s team of seasoned managers and this injection of fresh capital, it will bring complementary expertise that will enable us to accelerate our development plan and achieve our high ambitions by exploring new market segments,” he said.