Western, ATB to buy Foothills Creamery stake for $27.6 mln
Western Investment Co of Canada and co-investor ATB Capital have agreed to buy a stake in Foothills Creamery Ltd, a Calgary-based producer of dairy products, including butter and ice cream. The purchase price of $27.6 million will be settled in cash, debt funding, and a performance-based earn-out. As a result of the deal, slated to close this week, Western and ATB will own 50 percent of the company, with Foothills Founder and CEO Don Bayrack holding the rest. Western, a Canadian private equity firm, said the deal will support Foothills' growth. ATB Capital is the $100 million private equity fund of Alberta financial institution ATB Financial.
26 February 2018•3 mins read
