An investor group led by Champlain Financial Corporation, and including Fondaction, has taken majority ownership of the Montreal, Quebec-based Wong Wing business unit in partnership with McCain Foods Canada.
Terms of the purchase, which creates a new frozen food platform with a dedicated management team operating as MLW Foods, were not disclosed.
Based in Montreal, Quebec, Wong Wing is a leading Canadian frozen food brand specialized in the development, manufacturing and distribution of frozen Chinese snacks, appetizers, entrees, soups and side dishes, supplying customers throughout the nation. Its extensive product line includes egg rolls, dumplings and pot stickers to sweet and sour pork, lemon chicken, fried rice and won ton soup.
The partnership will build on the strong legacy of the Wong Wing business founded in 1948 in Montreal, enabling for expansion and growth into a wider North American market and creating a category leader in Asian-inspired products.
Tony Galasso, formerly chief executive officer of Plats du Chef and the incoming executive chairman of MLW Foods, commented: “Our experienced leadership team is excited about the partnership and the growth opportunities that the platform will create in new product innovation, new geographic expansion and new channel distribution. Working closely with strategic food retailers, our goal is to be the category leader in modern Asian inspired frozen foods in North America, with both branded and private label segments.”
About Champlain Financial Corporation
Champlain, a Canadian private holding company headquartered in Montreal, has been building a diversified private equity portfolio since 2005, with a series of investments throughout Canada and the United States. Among its other food business investments is Champlain Seafood, the parent company of Shediac, New Brunswick-based Captain Dan’s Seafood as well as lobster and crab processors Cheticamp Fisheries, Riverside Lobster International, Boston Lobster, Petit de Grat Packers and Cape Bald Packers.
