Business and Operations
TMG acquires majority stake in ABI Ltd.
By Bakers Journal
TMG, owner of MECATHERM acquired a majority stake in ABI Auto-Bake Industries Ltd. (ABI Ltd.) a Canadian designer, manufacturer and integrator of industrial baking equipment. Supported by Unigrains, this transaction strengthens the international footprint of both MECATHERM and ABI Ltd.
Founded in 1989 and headquartered in Toronto, ABI LTD is a North American bakery solutions provider recognized for its bagel and pretzel production equipment, and its automation equipment. Led by co-founder and CEO Alex Kuperman, ABI LTD has sales of roughly $CA 20 million, strong growth, and deep technical expertise supported by a team of nearly 80 people. Together, ABI LTD and MECATHERM now offer a complete end-to-end bagel line; many additional ABI LTD products can be integrated into MECATHERM’s offering.
The relevance of this acquisition has already been demonstrated by the September 2020 launch of the MECABAGEL line, a complete solution for the production of bagels from make-up to freezing. This new and unique solution combines the technologies of both companies, allowing clients to produce artisan-style bagels on high-performance industrial equipment.
“With TMG and Unigrains, we have found partners who share our values and our culture. Beyond furthering innovation and enriching our complementary product and service offering, this transaction will greatly benefit the teams of both companies through the sharing of expert know-how and best practices. It will enable ABI LTD to more seamlessly serve large, global customers and offer mid-sized industrial bakeries a wider variety of manufactured solutions. We are delighted to enter this new phase of our development as part of TMG,” said Alex Kuperman, CEO of ABI LTD, in a press release.
Jean-François Laurain, CEO of Unigrains, added: “With complementary positions and several common projects, this operation offers many advantages for the development of both MECATHERM and ABI LTD. This acquisition is fully in line with our vision for the global industrial baking equipment industry, a strategic outlet for French agricultural productions.”