C.A. Bancorp Inc., a Toronto-based merchant bank, says it has closed a CAD 4 million growth capital investment in Salbro Bottle Inc. and a group of Toronto-based, privately held related glass and bott…
C.A. Bancorp Inc., a Toronto-based merchant bank, says it has closed a CAD 4 million growth capital investment in Salbro Bottle Inc. and a group of Toronto-based, privately held related glass and bottle companies. C.A. said 3 March 2008 that Salbro will use the money to grow its packaging business by expanding in-house manufacturing and design capabilities. Salbro has manufacturing plants and and warehouses in Toronto, Ontario and St. John“s, Newfoundland and Labrador. “We are very excited to be investing in Salbro; a mature cash-flow positive business with strong growth opportunities and an experienced management team”, said Mark Gardhouse, president of C.A. Bancorp. “Sourcing components from around the world provides their customers access to a wide selection of products, while being able to manufacture locally gives Salbro the ability to respond to customer needs quickly. This combination of manufacturing and distribution activities gives Salbro a true competitive edge”. The CAD 4 million investment was made by C.A. Bancorp, with CAD 3.6 million, and the Sentry Select Total Strategy Fund, which provided about CAD 400,000.