Lynx is pleased to announce the synergistic acquisition of Sorrento’s Lighthouse Market
October 21, 2021
Toronto, ON / Sorrento, BC – Lynx Equity Limited is pleased to announce the acquisition Sorrento’s Lighthouse Market (“the Company”), a community destination for groceries, liquor, and tobacco. The Company is located in the community of Sorrento, on the southern shore of Shuswap Lake within the Canadian province of British Columbia. The opportunity to acquire Lighthouse Market was immediately attractive to Lynx, primarily due to the synergies present between the Company and Lynx’ subsidiary business, Blind Bay Village Grocer (“BBVG”). The benefits associated with the Company and BBVG include savings from combined purchasing, streamlined back-office resources, and sharing of best practices. With increased collaboration, the Companies could gain a substantial market position in the Shuswap region. By pursuing this acquisition, Lynx will be able to increase its exposure in this non-cyclical industry in the region of Shuswap Lake.
“I was pleasantly surprised with the manner in which the transaction progressed with Lynx Equity,” commented Ilsan Kim (or “Sam”), the Company’s former owner. “It was organized and professional in every possible way. It is my belief that Lynx Equity will excel in establishing Lighthouse Market as local community store, and bolster its position within the community. I sincerely thank our community and local customers for support over the years.”
“The acquisition of Lighthouse Market allowed us to increase our already successful footprint in Western Canada with a relatively minimal transition risk,” commented Andrea Natarelli, Mergers & Acquisitions Associate at Lynx. “With James’ [Inglis] significant contribution throughout the acquisition process and managerial oversight post-close, a fairly seamless transition is ensured.”
James Inglis will oversee management activities and drive strategy with the ultimate goal of running two separate but highly integrated grocery stores.
“We are honoured and excited to have the incredible staff at the Lighthouse join our team,” commented James Inglis. “Their wealth of knowledge and experience will be invaluable as we continue to deliver on what our customers have come to love about this staple in our community.”
Lynx’s grocery portfolio currently includes the Blind Bay Village Grocer, located in Blind Bay, BC and acquired in 2018. Lynx continues to pursue acquisition opportunities across North America and Europe.
The transaction was facilitated with buy-side legal services by Minden Gross LLP.
About Lighthouse Market
Lighthouse Market is a family-owned grocery and liquor store in the Shuswap. They offer a full line of groceries with many local products, fresh produce, fresh cut meat, as well as an in-store bakery and deli. The Company serves hot meals daily, which attracts Sorrento locals and tourists alike.
For further information on Lighthouse Market, please visit https://sshss.ca/service-inventory/sorrento-lighthouse-market/
About Lynx Equity Limited
With sales in excess of $500M CAD, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between $750k – $3M USD and utilizes a buy and hold strategy.
For further information on Lynx Equity, please visit www.lynxequity.com
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