Dicom Transportation Group, a Canadian transportation and logistics business, has acquired the Courier Express Enterprises group of companies, a U.S. provider of business-to-business last-mile delivery services. The deal, the value of which was not released, will give Dicom additional last-mile capabilities in the Eastern United States, the company said. The Courier Express acquisition is Dicom's fourth so far this year. Previously, it bought Extra Express, Modern Forwarding and Orbis Logistics. Based in Montréal, the company has been backed by U.S. private equity firm Wind Point Partners since February 2014.
3 min read · 04 August 2015
Allianz Capital Partners, Borealis Infrastructure Management, an affiliate of Abu Dhabi Investment Authority and MEAG, Munich Re (Group)'s asset manager, have teamed up to acquire Autobahn Tank & Rast Holding GmbH, a provider of food service, retail goods, hotel accommodation and fuel on German motorways. The financial terms of the deal were not disclosed. Tank & Rast is being sold by British private equity firm Terra Firma Capital Partners and Deutsche Asset and Wealth Management. The acquisition is expected to close later this year. Borealis is the infrastructure investment arm of the Ontario Municipal Employee Retirement System (OMERS).
5 min read · 04 August 2015
Canadian organic foods supplier SunOpta Inc said it would buy organic frozen fruit supplier Sunrise Holdings Delaware Inc for about US$450 million in a move to strengthen its packaged products business, Reuters reported. SunOpta is buying the company from a group of investors led by U.S. private equity firm Paine & Partners.
2 min read · 04 August 2015
The Canada Pension Plan Investment Board (CPPIB) has formed a joint venture with Health Care REIT Inc (HCN.N), which operates senior housing centres in the United States, to hold a portfolio of medical office buildings in Southern California, Reuters reported. CPPIB will own a 45 percent stake in the joint venture. The portfolio, valued at US$449 million, consists of medical office buildings in and around Beverly Hills, San Diego and Los Angeles.
1 min read · 04 August 2015
Calgary-based Long Run Exploration Ltd has agreed to a private placement of its common shares to Maple Marathon Investments, an affiliate of Hong Kong's MIE Holdings Corp. The transaction is expected to generate gross proceeds of about $200 million. As a result, Maple Marathon will hold about 43.9 percent of the issued and outstanding common shares of Long Run, an intermediate oil and natural gas business. Canadian private equity firm Sprott Resource Corp, which currently holds an 11.9 percent equity interest in the company, said the proceeds of the private placement will be used to reduce debt and improve its capital structure.
5 min read · 04 August 2015
The Caisse de dépôt et placement du Québec has made a $6 million investment in Wooky Entertainment Inc, a Canadian provider of games and toys targeted primarily to the preteen market. The Montréal-based Wooky has developed more than 600 products that are distributed to retailers in 50 countries. With an established market presence in North America and Europe, the company said it plans to strengthen its operations in the Asia-Pacific region. It opened its first office in Hong Kong in early 2015. Wooky was founded in 2007 by President and CEO Kevin Richer.
2 min read · 04 August 2015
Ontario Teachers' Pension Plan has completed its previously-announced acquisition of Heritage Royalty LP, a former subsidiary of Cenovus Energy Inc, a Calgary-based oil business. Ontario Teachers paid $3.3 billion for Heritage, which holds about 4.8 million acres of royalty interest and mineral fee title lands in Western Canada. As reported by Reuters in June, the Canadian pension fund manager made the investment through its Natural Resources Group, which was set up in 2013 to acquire real assets, including oil and gas assets.
2 min read · 31 July 2015
Plastic packaging products maker Berry Plastics Group Inc said it would buy Avintiv Inc, which makes materials used in products ranging from diapers to disinfectant wipes, for about $2.45 billion in cash from Blackstone Group LP.
2 min read · 31 July 2015
International Flavors & Fragrances Inc (NYSE: IFF) has completed its acquisition of Lucas Meyer Cosmetics, a Québec City-based manufacturer of ingredients for the cosmetics and personal care industry. The deal was previously announced to value about €283 million ($392 million). The seller in the transaction was France's Unipex Group Inc, which has been a portfolio company of European private equity firm IK Investment Partners since 2012. IFF, a developer of flavours and fragrances used in consumer products, has its headquarters in New York.
2 min read · 31 July 2015
United Parcel Service Inc, the world’s largest courier company, said it would buy Coyote Logistics from private equity firm Warburg Pincus for $1.8 billion to expand its full-truckload services, according to Reuters news service.
1 min read · 31 July 2015
