Canada's Dare Foods Family Shareholding For Sale
Access to a significant proportion of one of Canada's largest food businesses, Dare Foods, is available after Carolyn Dare Wilfred the great-grand daughter of the founder announced a decision to focus on other interests.
Carolyn Dare Wilfred's original announcement on 8th April came just a day before the passing of her father and family patriarch Carl M. Dare, aged 96, who led the business for just over 60 years until 2005. Carl Dare is credited with modernising and developing the company as one of the largest Canadian privately run food businesses to survive consolidation.
Dare Foods products can be found in most North American pantries and include stalwarts such as Wagon Wheels, Breton Crackers and Boulangerie Fine Bread. It is a family owned business, established in 1892 and its products are sold in over 25 countries. The family owners include Carl M. Dare's three children.
Carolyn Dare Wilfred, who now resides in New Zealand, has decided to sell out of the family dynasty opening up the potential for outside interest in Dare Foods, including from competitors. She is offering her entire private Dare family shareholdings for sale to third parties, which include Dare Foods Limited, as well as other significant Dare family assets.
Taurus Group Limited, has been engaged to manage the divestment of Carolyn Dare Wilfred's private interests to financial institutions, private equity and other companies, and is marketing the opportunity around the world.
Wayne Bailey, CEO of Taurus Group, says the move by Ms Dare Wilfred is a very personal decision to focus on her life in New Zealand:
"After growing up and living most of her adult life in the environment of a large multi-national food corporation she has made the very individual decision to focus on her life, family and business in New Zealand. Our role is to represent her North American business interests to potential third parties around the world to achieve the best outcome. Considering the scale of the business, and other assets included in her private family holding, we are already receiving significant interest," he says.
Dare Foods employs over 1,100 people at its plants in North America, has led the world in the production of peanut free and gluten free products, and is headquartered in Kitchener, Ontario, Canada.
Taurus Group is a strategic finance and chartered accountancy specialist based in Christchurch, New Zealand, with a Capital and Finance division focused on business sale, structuring and advice.
Further information is available under confidentiality upon request including all shareholding agreements and current financials. Interested parties may contact Mr Wayne Bailey at +64 21 329 498.
A more detailed back story to this announcement can be found at the following link – Canadian Dare Foods Dynasty For Sale
<< Back to Latest News