Trussbridge Group has bought a controlling stake in La Maison Cannelle, a Canadian maker of gluten-free food. It is the UAE boutique investment company’s first purchase since it was set up last month.
The company said it led a consortium of investors from the UAE and Qatar to buy the stake, but would not say for how much.
La Maison Cannelle, which was founded in 2005, sells more than 80 types of gluten-free foods, including baked goods, ready-made meals and dry products.
Part of Trussbridge’s plan is to bring La Maison’s products to the Arabian Gulf where there is palpable demand, said Samer Katerji and Rody Yared, the co-managers of the company.
“The investment that was made was to help the company accelerate growth in its home market, accelerate the growth in the US, which is considered the largest global market for gluten-free products and to bring that company to the region,” Mr Katerji said. “At present, it doesn’t exist in the UAE and GCC.”
La Maison Cannelle may initiate distribution agreements within the region over the next 12 to 15 months.
“GCC per capita is high. That will allow people to afford more high-quality products,” Mr Yared said.
The primary focus of Trussbridge’s plans, however, will be to expand La Maison Cannelle’s core business in Canada and the US, homes of the biggest markets for gluten-free products.
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