Compass-owned Sterno acquires Northern International for $50 mln

Sterno Products LLC, a subsidiary of Compass Diversified Holdings (NYSE: CODI), has acquired Northern International Inc, a Coquitlam, B.C.-based provider of flameless candles and outdoor lighting products for the retail segment. Sterno paid $50 million for the company, including a $2.5 million earn-out payable over two years. Sterno said the deal strengthens its position in the food service lighting segment, and enhances Northern International's ability to grow. CODI, which holds a number of mid-market businesses, is an affiliate of The Compass Group, a U.S. private equity firm. Last year, CODI bought Winnipeg's Manitoba Harvest Hemp Foods for $132.5 million.

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