Two New Brunswick business titans are teaming up to grow the 150-year-old Ganong Bros. Limited. Glenn Cooke, the CEO of Cooke Inc., has made what the companies are calling a “major partnership investment” in the St. Stephen-based candy and chocolate company.
Cooke’s investment will be used to purchase new equipment and leverage the company’s global retail grocery presence to grow Ganong.
Bryana Ganong, the president and CEO, and her brother Nick Ganong, the COO, will continue to lead the management team for Ganong Bros. Inc.
“This partnership, and the strategic investment from the Cooke family, is designed to ensure that Ganong remains competitive in an ever-changing global confectionary market,” said Bryana Ganong in a release.
“We were committed to finding an investor that understood the history of our company and our commitment to our employees and New Brunswick. We are pleased to partner with the Cooke family because they understand what it takes to run a globally competitive business from a base in New Brunswick.”
Joel Richardson is the vice president of public relations at Cooke. He tells Huddle the Cooke investment presents some key benefits for Ganong.
“As a food producer working with another producer of confectionary products it was sort of a nice match, a nice fit,” he says. “It gives Ganong an opportunity to partner with a company that’s selling products all over the world in the grocery market.”
Richardson said the deal also means Ganong can expand while keeping its important connection to New Brunswick.
“Glenn Cooke has a deep passion for the Charlotte County community and the Charlotte County region and the people who live in Charlotte County. He felt that an investment in Ganong was something he wanted to do to support and grow the company,” Richardson said.
Richardson says it’s too early to speculate on where specific investments will be made. However, he says there is “certainly a commitment on behalf of Glenn Cooke and the family to be able to invest in new equi[ment and increase productivity … and be able to grow the operation from St. Stephen.”
Established in 1873, Ganong is Canada’s longest-standing family-owned and operated chocolate company. It has 300 dedicated employees who manufacture a variety of chocolates and confectionery treats. Ganong manufactures its own brands as well as co-manufactures production of other brands for Canada and the US.
“For generations, our family and our employees have been helping Canadians celebrate their sweetest moments and we’re thrilled to be partnering with the Cooke family who have built a global food processing company with roots in Charlotte County,” said Ganong.
“This exciting investment by Cooke will enhance the company’s capacity to serve customers, provide more opportunities for our incredible employees, and help us continue to enhance our community.”
The privately owned companies are not releasing the terms of Cooke’s investment.
With files from Alex Graham
