Regal Confections announces the acquisition of Tosuta International
by CM Staff
The strategic acquisition hopes to strengthen the presence and scope of Regal's existing gas & convenience business.
MONTREAL — Regal Confections, a distributor of global candy and chocolate confectionery brands, announced on Nov. 3 the acquisition of Tosuta International Sales Ltd., an importer and distributor of gummies, sours, hard and soft candies, throat lozenges, and chocolate.
Tosuta, headquartered in Langley, British Columbia, has grown within the gas & convenience channel over its history. Tosuta is also the owner of the Koala and Livewires brands, which are category leaders in the gas & convenience channel.
“For decades Tosuta has been dedicated to delivering the best quality confectionery and other fine products from around the world to the Canadian market. We selected Regal to uphold our values and foster growth for our brand partners and customers, relying on their nearly 60 years of experience in the confectionary industry,” says Dean MacDonald, President of Tosuta.
“Dean is an industry veteran whom we have known a long time. We’ve always admired and respected Tosuta’s leadership and its brand positioning. Over the past few years, Dean and I have had informal discussions and we both agreed this was the right time to come together. With Tosuta and its brands in our portfolio of products, Regal will increase its presence in Western Canada and we plan on expanding upon the Tosuta team’s great work on a national basis,” says Hani Basile, President and CEO of Regal.
The strategic acquisition hopes to strengthen the presence and scope of Regal’s existing gas & convenience business, deepening its portfolio of brands, and provides entry into the throat lozenges category.
The transaction was made possible by the capital and strategic support of Clearspring Capital Partners, a private equity firm focused on growing mid-market companies, and funding from Regal’s other shareholders, including Senior Management.
“We are impressed with Tosuta’s brand portfolio, market penetration, and long track record of success. This is the first acquisition since our partnership with Regal commenced late last year, and we are excited to continue supporting Regal in elevating their leadership position as an independent value-added distributor with co-packing and manufacturing capabilities.” says Milap Choksey, Principal at Clearspring.