Submitted by: Renewal2 Investment Fund
Posted: Dec 06, 2011 – 08:00 AM EST
BURNABY, B.C., Dec. 06 /CSRwire/ - Renewal2 Investment Fund is pleased to announce the fund’s first exit with the sale of its stake in portfolio company, Horizon Distributors.
Horizon Distributors is one of Canada's leading organic, natural and gourmet foods distributors, serving retailers and providing the best natural, organic, gourmet and eco-products. Renewal2’s shares in Horizon were successfully sold to the company’s majority owner, Ron Francisco and a gain was realized on the disposition of the investment.
Horizon was one of two portfolio companies that Renewal Partners contributed as part of their investment into Renewal2. The company was chosen as a portfolio contribution given its relative strength, size and long history of value creation for their shareholders.
In 1995, Renewal Partners provided a loan to Horizon’s predecessor and in 1998 became an equity investor when Horizon restructured from a co-op. Today, Horizon distributes across six provinces—supplying major grocery stores including Capers, Whole Foods Markets and the Overwaitea Food Group. Over the past years Horizon has continued to provide distribution opportunities for countless organic companies including other Renewal2 portfolio companies such as Alter Eco Americas and Seventh Generation.
“It is exciting to see our fund’s first exit but it is also comes with mixed emotions,” said Paul Richardson, President of Renewal2. “Renewal has been involved with the company for over 16 years and the management team and staff have been wonderful to work with over the years. We are extremely pleased with how far the company has come since our first investment and believe that this was the time is right for us to accept the purchase offer.”
For more information about Horizon Distributors, visit their website at www.horizondistributors.com
About Renewal2 Investment Fund
Based in Vancouver, BC, Renewal2 is a social venture fund that builds upon almost two decades of experience in successful high-impact investing. Renewal2 is dedicated to delivering financial returns by investing in leading environmental and social mission businesses in Canada and the U.S. www.renewal2.ca
Disclaimer: This is not an offer or solicitation to sell securities of, or financial interests in, the Fund. Investment in the Fund is limited to a restricted pool of investors, namely “Accredited Investors” and others not requiring disclosure by prospectus as defined under applicable securities laws
For more information, please contact: