Van Houtte – Shareholders to vote on deal on July 9

MONTREAL, Canada – Coffee retailer Van Houtte Inc., which is being bought by U.S. private equity firm Littlejohn & Co. of Greenwich, Conn, in a $600-million deal, is moving closer to being taken private and out of Canadian hands.

CEO Jean-Yves Monette said Thursday that court approval has been given for a special meeting on July 9 for shareholders to vote on the deal, which offers them $25 a share.

The Montreal-based company will be taken private by Littlejohn & Co. of Greenwich, Conn, a company that makes equity investments in midsized companies.

No significant changes in staffing levels, strategic orientations or operations are expected as a result of the transaction. The head office is also expected to remain in Montreal.

The announcement about the special shareholders meeting came after Van Houte reported a jump in fourth-quarter profits after booking an unusual gain.