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2017

Cinnaroll Bakeries Limited.
Acquistion

We represented Canadian family office Skidmore Development Group (“Skidmore”) and SouthPac Partners Inc. (“SouthPac”) in connection with their acquisition of Cinnaroll Bakeries Limited (“Cinnaroll”), a leading Canadian integrated bakery and maker of gourmet cinnamon rolls established in 1987 and headquartered in Calgary, Alberta. We acted as a lead corporate legal counsel and drafted and assisted in negotiation of all share and asset purchase documents as well as all refinancing documents. We also drafted and negotiated on behalf of SouthPac all structuring and governance documents.

Cinnaroll markets two brands: Cinnaroll by Baker Boys, a wholesale manufacturer of branded baked product; and CinnZeo, a network of corporate-owned and franchised café style cinnamon roll stores. Cinnaroll owns and operates a wholesale bakery facility, servicing grocery and food service customers across North America and has 72 CinnZeo corporate retail and franchised locations in Canada, Mexico and the Gulf countries.

Skidmore, a member of Thomas Skidmore group of companies, is a private investment company focused on delivering long-term growth and value creation in retail, distribution, and real estate sectors. Skidmore invests in profitable small and mid-market companies with growth or consolidation opportunities and strong unique value proposition. SouthPac is a private investment group based in Vancouver, B.C., focused on private operating businesses and real estate assets. Its investment approach is to build value over the long term, leveraging the experience of the SouthPac’s principals and their investor network, and providing business owners with ownership transition, M&A financing, growth capital, land/building purchase and selective restructuring opportunities.