CFM Majestic Inc. completed the acquisition of Keanall Holdings Limited on January 2, 2002. CFM, with sales in excess of $400 million in its most recent fiscal year, and with facilities in Ontario, Indiana, Vermont, Illinois and England, is a leading manufacturer of hearth, heating and barbecue products and related accessories. A number of such products are being sold under the Vermont Castings, Majestic Products trademark. Keanall is a leading manufacturer and distributor of quality, after-market, gas grill products to many of North America’s largest retailers serving the recreational and home improvement markets.
CFM acquired all the issued and outstanding shares of Keanall for consideration comprised of cash, a promissory note and common shares of CFM, for an aggregate acquisition value of over $70 million, based on the value of CFM’s shares at closing.
Fraser Milner Casgrain LLP in Toronto acted for CFM with a team that included Scott Dunlop, Kim Cadario and Pamela Spencer (corporate/commercial, securities), David Miller (banking), Anneli LeGault and Adrian Miedema (employment law) and Mark Rowbotham (employee benefits). Blake, Casssels and Graydon LLP in Toronto acted for Keanall’s selling shareholders with a team that included Gail Lilley, Bryson Stokes, Trudi Pye and Linda Lam (corporate/commercial) and Peter MacGowan (banking).