Macaron and sweet goods makers snags investment

Macaron and sweet goods makers snags investment

TORONTO — Bond Bakery Brands Ltd., a stakeholder-focused investment platform accelerating the growth of bakery companies, has initiated an investment in Coco Bakery Inc. Headquartered in Mississauga, Ont., Coco Bakery makes French macaron and premium sweet goods for distribution to retail and foodservice customers across North America.

“Coco Bakery is a leader in a segment of strategic importance to us and expands our production footprint into the Ontario market,” said Nicolas Mulroney, co-founder, president and chief executive officer of Bond Bakery. “Coco Bakery’s founders have built a strong reputation within the industry, and we are very excited to invest in the company’s growth in Canada and the United States.”

Cameron Loree, co-founder and executive vice president of investments and corporate development at Bond Bakery, called Coco Bakery “a transformational investment” for Bond.

“This transaction exemplifies the power of our platform to founder- and family-run commercial bakeries,” Mr. Loree said. “It provides a strong foundation for us in the GTA (Greater Toronto Area) and significantly strengthens Bond’s sweet goods platform, alongside Portofino Bakery and Pace Processing.”

Founded in 2004, Victoria, BC-based Portofino Bakery is one of the fastest growing diversified bakeries in Canada. The company’s products include a full line of bread and buns, as well as specialty items such as pretzel buns, ciabatta and artisan bread. Portofino also offers gluten-free breads, buns and pastries.

Pace Processing, Surrey, BC, is a multi-category food processor serving retail and foodservice industries across North America. The company’s products span the baked food production spectrum, from traditional pizzas and artisan bread to decadent cakes, single-serve dessert and more.

Bond Bakery secured its investment stakes in both Portofino Bakery and Pace Processing in October 2020.

For Coco Bakery, the partnership with Bond Bakery represents the next phase of growth, said Oksana Marjanovic, founder of Coco Bakery.

“Since founding the business in 2012, we’ve worked hard to become the North American leader in French macarons and other similar bakery products and look forward to joining Bond’s exciting bakery platform,” she said. “We were impressed with Nicolas and Cameron from our very first meeting with Bond and have a lot of respect for the hard work and enthusiasm they’ve put into building their business. I’m excited to see what Coco Bakery can achieve under their guidance.”