TORONTO — On Sept. 29, Ontario-based Stephano Group Ltd (Stephano Group) announced a minority growth equity investment from the Canadian Business Growth Fund (CBGF) to accelerate its plans for growth. Stephano Group is a Canadian consumer-packaged goods (CPG) food manufacturing business.
Currently operating two manufacturing sites across the GTA, Stephano Group produces branded and private label breakfast and snack foods. Stephano’s ten production lines produce a range of breakfast and snack products which include Organic, Non-GMO, Gluten-Free, allergen-controlled, and Kosher-certified capabilities.
The company has seen growth in the last five years, driving sales through retail and food service channels in both Canada and the US, and is trying to become a top producer of cereal and nutritional bar products in North America.
With the support of CBGF, Stephano Group will use the proceeds of this raise to increase sales and marketing efforts, expand corporate infrastructure, and grow its manufacturing capacity. “We are very excited about this new chapter for Stephano Group. This investment will allow the company to have more fluid growth and enable us to meet our growth targets over the next few years,” says Noah Frank, President, Stephano Group Ltd. “We believe that along with their financial backing, the CBGF team provides a measure of support and guidance which will serve the company well over the coming years. We are thrilled to have them on board”.
In 2009, Stephano Group relocated to Toronto and began focusing on its private label and contract manufacturing offerings.