Sun Capital acquires Timothy's Coffees of the World
March 25, 2008
by FoodBusinessNews.net Staff
BOCA RATON, FLA. — Sun Capital Partners, Inc. announced one of its affiliates has acquired Timothy’s Coffees of the World, Inc.
"We are delighted to add Timothy’s to our growing portfolio of restaurant and food service affiliates, including existing controlling interests in 10 restaurant companies and five companies operating in the wholesale food and beverage space," said Anthony Polazzi, vice-president of Sun Capital Partners, Inc. "Timothy’s is a well-known provider of premium coffee and bakery products through its network of 166 owned and franchised locations as well as through its leading position within the wholesale single-serve coffee and tea market."
Timothy’s is based in Toronto and its stores are under the Timothy’s World Coffee, mmmuffins and Michel’s Baguette brands.
Financial terms of the acquisition were not disclosed.
"We are very proud of the growth and success we have enjoyed over the last 30 years and have determined that the best path going forward is to join forces with Sun Capital Partners … we are confident that our partnership will allow Timothy’s to fully realize its strategic potential," said Becky and Ian McKinnon, executive chairman and president of Timothy’s.