Business
VenGrowth Funds provide $3.4 million in private equity funding to product sample pack specialist Samplex
VenGrowth Funds provide $3.4 million in private equity funding to product sample pack specialist Samplex.
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\n\nCapital used to partner with former general manager in the acquisition of \nestablished business \n\nTORONTO, July 21 /CNW/ - VenGrowth Private Equity Partners Inc.\n(\"VenGrowth\"), a leading private equity firm with over $1 billion in assets\nunder management, today announced a $3.4 million investment in Samplex\nMarketing Solutions Corporation (\"Samplex\").\nThe VenGrowth Traditional Industries Fund Inc., The VenGrowth III\nInvestment Fund Inc. and VG Mezzanine I Limited Partnership provided a\nsubordinated loan to the Toronto-based company, and also acquired a minority\nequity position. The financing enabled Todd Blair, former general manager of\nSamplex, to lead the purchase of the company from previous owner Advantex\nMarketing International Inc. (TSX:ADX).\n\"Founded in 1983, Samplex pioneered selective sampling programs for\npackaged good manufacturers in Canada and is the dominant player in that\nmarket,\" said Graham McBride, Managing General Partner, VenGrowth. \"Todd has\ncontinued to build on that success since taking the reins in 2004, and we are\nexcited to partner with Samplex to help realize the full potential of this\nbusiness.\"\nSamplex creates and distributes demographically themed product sample\npacks for large, brand name packaged goods manufacturers. Samplex groups\nproduct samples and coupons together in themed packs for sale to consumers\nthrough grocery stores, drug stores and mass merchandisers. An example is a\npack comprised of health and beauty products targeted to teenagers and sold\nthrough National Grocers and Shoppers Drug Mart.\n\"Packaged goods manufacturers are increasingly using product sample packs\nto target specific demographic groups and generate business by encouraging\nconsumers to trial their products,\" said Todd Blair, President, Samplex\nMarketing Solutions Corporation. \"We plan to build on the many long-term\nrelationships that we have in place with retail and packaged goods partners.\nI'm delighted to partner with VenGrowth, a private equity leader, and utilize\nits support in executing on our growth strategy.\"\n\nAbout VenGrowth's Mezzanine Finance Team\n\nVenGrowth's Mezzanine Finance Team specializes in financing solutions for\nmid-market Canadian companies in traditional manufacturing and services\nindustries that are expected to generate sustainable cash flows...