Ontario Teachers' acquires majority stake in Shearer's Snacks

Torys acted as counsel to Teachers' with a team that included Jay Romagnoli, Jared Fontaine, Michael Horwitz, Max Shakin and John Cameron (corporate/M&A), Peter Keenan and Ari Feder (tax), Jonathan Wiener (debt finance) and Lynne Lacoursière (employment).

On January 15, 2015, Ontario Teachers' Pension Plan (Teachers') announced the acquisition of an additional equity stake in Shearer's Foods, Inc. (Shearer's) from Wind Point Partners (Wind Point). With this transaction, Teachers' holds a significant majority ownership in Shearer's, with company management remaining a meaningful shareholder. Wind Point retains a small interest in Shearer's.

Terms of the transaction are not being disclosed.

Shearer's is a leading national contract manufacturer and private label supplier in the snack industry in North America.

Teachers' is the largest single-profession pension plan in Canada, with C$140.8 billion in net assets as of December 31, 2013.

Wind Point is a private equity investment firm that partners with top caliber CEOs to acquire middle market businesses where they can establish a clear path to value creation.

Further information can be found on Canada Newswire's website.