BC Business
Qzina distributes chocolate and dessert products across the U.S.
Fulcrum sold Qzina Specialty Foods North America Inc., North America’s largest importer and distributor of chocolate and dessert ingredients, to Connecticut-based food products distributor The Chef’s Warehouse Inc. for $32.7 million.
Qzina Specialty Foods was acquired by HSBC Capital (Canada) Inc. in December 2005 following a significant period of growth in the U.S. market.
Qzina was in HSBC Capital’s portfolio when the fund’s management took over the private equity and mezzanine business of HSBC Bank Canada under the Fulcrum Capital Partners.
Currently headquartered in Pompano Beach, FL, Qzina was founded in Vancouver in 1982 by chocolatier Richard Foley. The company grew from a manufacturer of Belgian chocolates into one of the North America’s largest distributor of dessert ingredients, supplying restaurants, hotels and cruise lines in the U.S. and Canada with gourmet desserts, chocolates and pastries.
Qzina relocated to the U.S. in 2006 but it continues to operate a distribution branch in Richmond, B.C.
Fulcrum Capital Partners is a private investment management firm with offices in Vancouver and Toronto. Operating a $750-million portfolio split between two private equity funds, Fulcrum Capital has invested in 120 mid-market companies since it was founded as HSBC Capital in 1993. Fulcrum Capital’s executive team is based in Vancouver.