On an asset sale, one of the most useful lines can be the one that tells you what stays behind. That’s where we start this morning.
Goodfood gets court approval for Fresh Prep sale
Goodfood’s November 10 announcement said the Quebec Superior Court approved the sale of substantially all its assets to Fresh Prep. Goodfood expected the sale to close around November 13, subject to other conditions being met or waived. It said Fresh Prep would start serving about 30,000 active Goodfood customers after closing.
Goodfood’s shares in 16423132 Canada Inc., which owns about 80% of Genuine Tea, are excluded from the Fresh Prep deal and are subject to a separate sale process.
If you’re planning a customer handoff, make two lists. Put the accounts and assets that move at closing on one. Put anything excluded or headed for a separate sale on the other. Then tie the customer notices to the actual closing date.
Good Protein’s C$128 million deal leaves an allocation question
SEMCAP’s Good Protein announcement describes a C$128 million acquisition and growth partnership led by SEMCAP Food & Nutrition and Canadian investors. The Canadian group includes Farm Credit Canada, Roynat Equity Partners and Fondaction. SEMCAP says the deal will support expansion. It gives no breakdown between money for growth and proceeds for existing holders.
The first question for an expansion budget is how much the business itself receives. Settle that before pencilling in the next hire or inventory order.
Two more deal updates
Enghouse signs all-cash deal for MIND CTI
Markham-based Enghouse agreed to pay US$1.30 per share in cash, about US$25.4 million in equity value, according to the MIND CTI merger announcement. The agreement has no financing condition for Enghouse’s obligation. MIND can actively seek competing proposals until December 10, 2026. MIND shareholder approval and other closing conditions remain, with closing expected in the first quarter of 2027.
Put the competing-proposal window and shareholder approval on separate lines in your closing checklist. Each answers a different question about what happens after signing.
Taiga closes sale of two California distribution sites
Taiga’s November 10 closing announcement says it completed the sale of its Rocklin and Sanger, California, facilities to Boise Cascade. Inventory, equipment, rolling stock and other operating assets at those sites went with them. Boise plans to keep both sites operating. Taiga’s other Canadian and U.S. operations were excluded.
For a site sale, spell out which operating assets go with each address. That list also tells the seller what it still has to run.
For information and education, not advice for a specific transaction or a prediction of value.
Make deal news part of your morning. Subscribe to Deal Flow Canada, and come back every weekday for fresh Canadian deal updates.