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10/01/2021

Private label snack producer Stephano Group receives new funding

Canadian private label snack producer Stephano Group has received a capital investment from the Canadian Business Growth Fund to expand operations.
Zachary Russell
Associate Editor
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a group of people posing for a photo in front of a building
The Stephano Group management team

Ontario-based private label producer Stephano Group has gained a new investor. The Canadian Business Growth Fund (CBGF) has become a minority growth equity investor in the family-owned and operated company to help accelerate growth. For over 40 years, Stephano Group has been a producer of branded and private label breakfast and snack food products.

Stephano Group was founded in Ottawa in 1978 and currently operates two manufacturing sites in the greater Toronto area, creating cereal and nutrition bars in both Canada and the U.S. The company produces products that include organic, non-GMO, allergen controlled, and Kosher-certified items.

“We are very excited about this new chapter for Stephano Group,” said Noah Frank, president of 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. 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.”

CBGF is known for providing capital to mid-market sized businesses in Canada, with investments between $3 and $20 million. The undisclosed investment in Stephano Group will be used to increase marketing efforts, expand corporate infrastructure, and grow manufacturing capacity.

"As our first family-owned and operated investment, we are extremely proud to partner with the Frank family as they continue on their mission of growing Stephano Group into a leading private label manufacturer of high-quality breakfast and snack products in North America,” said George Rossolatos, CEO of CBGF. “We are excited to help the second-generation sons continue in their parents' footsteps and believe they have the experience to execute on their bold plans for growth.”