Mondoux, a Laval-based confectioner whose gummies and other sweets are ubiquitous in Quebec convenience stores as well as at gas station sales terminals, has been purchased by Regal Confections also of Laval, the two companies disclosed in a statement on Tuesday.
Mondoux, whose Sweet Sixteen gummy mix was developed by the company in recent years into a standout in convenience store settings, was founded in 1967 by Normand Mondoux.
Mondoux operates out of a 90,000 square foot facility in Laval, which houses the company’s head-office and packing operations.
A 22,000 square foot chocolate factory, also in Laval, for Mondoux’s Giacomo brand chocolate offerings, is a stone’s throw away from the company’s headquarters.
Mondoux has grown over time to become a leader in the highly competitive convenience & gas (“C&G”) retail category in Quebec, with 77 trucks delivering its assortment in the province, as well as in the Maritimes and in Ontario.
In 2010, Jean Mondoux, a member of the second generation of the family, created the Sweet Sixteen brand by mixing 16 distinct premium candies in a bag.
According to the company, Sweet Sixteen has become the best-selling gummy, licorice, and marshmallow brand mix in Quebec.
“We are excited to partner with Regal to uphold our family values and foster growth for our customers and brand partners, relying on Regal’s ~65 years of experience representing prestigious brands via its coast-to-coast coverage model across all sales channels.” Jean Mondoux, who chairs the company board, said in a statement.
The transaction was supported by Clearspring Capital Partners, a Canadian private equity firm focused on growing mid-market companies, as well as by Regal’s shareholders and banking partners, and the Mondoux family and management team who, according to the Regal/Mondoux statement, become partners in Regal.
As part of the acquisition agreement, Jean Mondoux has been given a seat on the Regal board. The two companies did not disclose the monetary terms of the agreement. Mondoux’s president, Mathieu Pilon, will continue in his role and will lead Mondoux as a separate entity.
“Confectionery Mondoux and the Mondoux family have a long and well-earned reputation in the industry,” said Hani Basile, president and CEO of Regal.
“They’ve carved an enviable market niche in Convenience & Gas, especially in Quebec,” added Basile. “In fact, many of our own products distributed in the Quebec C&G channel are sold through Mondoux’s franchise delivery model.
“Sweet Sixteen is a true complement to our product range and allows us to deepen our presence in the everyday confectionary category across Canada. I am pleased to partner with the Mondoux family and welcome Jean Mondoux to Regal’s Board.”
