MIRA INFORM REPORT

Report No. :	491399
Report Date :	13.02.2018

IDENTIFICATION DETAILS

Name :	GRACE FOODS CANADA INC

Registered Office :	199 Bay Street , Suite 4000 Commerce Court West , Toronto , Ontario , M5l 1a9

Country :	Canada

Date of Incorporation :	1922

Legal Form :	Canada Business Corporations Act

Line of Business :	Food and Beverage Industry

No. of Employees :	52

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 300 000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

CANADA - ECONOMIC OVERVIEW

Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.

The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.

Source : CIA

STATUTORY INFORMATION

Legal Name:

Grace Foods Canada Inc.

Trade Name:

Grace Foods Canada

ID:

CA4132769

Date Created:

1922

Date Incorporated:

2003-01-01

Legal Address:

199 BAY STREET

SUITE 4000 COMMERCE COURT WEST

TORONTO

Ontario

M5L 1A9

Canada

Operative Address:

70 West Wilmot Street

Richmond Hill, ON L4B 1H8

Canada

Telephone:

(905) 886-1002

Customer Service: 1 888 234 7223

Fax:

(905) 886-1798

Legal Form:

Canada Business Corporations Act

Email:

GraceCanadaAnswers@gkco.com

Registered in:

CANADA

Website:

www.gracefoods.ca

Contact:

Sarath (Lucky) Lankage, President & Board Member

Allan F Brown, Board Member

Donald Wehby, Board Member

Staff:

Activity:

Food and Beverage Industry

BANKS:

THE BANKO F NOVA SCOTIA (SCOTIABANK)

40 KING STREET WEST, 2ND MEZZANINE, TORONTO, ONTARIO, CANADA M5H 1H1 (NOSCCATT)

HISTORY

The company was founded in 1922

Key Developments:

Previous names:

GRACE, KENNEDY (ONTARIO) INC. 2005-08-03

GraceKennedy (Ontario) Inc. 2017-04-01

PRINCIPAL ACTIVITY

GRACE FOODS CANADA INC is a food and beverage company located in Canada.

Products/Services description:

PRODUCTS:

COCONUT WATER

COCONUT & DAIRY PRODUCTS

BEVERAGES

Tropical Rhythms

Island Soda

Cold Beverages

Hot Beverages

SYRUPS, FLAVOURS & JELLY

CORNMEAL & OATS

ORGANIC AND NATURAL COCONUT PRODUCTS

JERK PRODUCTS

COMBOS & MIXES

Caribbean Combos

Caribbean Mixes

PEAS, BEANS & ACKEES

Dry Peas & Beans

Canned Peas, Beans & Ackees

SOUPS, RICE & SUGAR

Soups

Rice

Sugar

CANNED FISH & MEATS

Meats

Fish

SEASONINGS & SAUCES

Spices

Sauces

HOT PEPPER SAUCES

SNACKS

Chips

Crackers

Crix

Candy

PARTNER BRANDS

Ann Ginger

Butterkist

Chubby

Crix

Dunn's River

Eclipse

Excelsior

KC Candy

Munchee

Nutrament

Ovaltine

Ribena

Shirley

VitaMalt

Colombina

San Marcos

Pan

Brands:

Ann Ginger

Butterkist

Chubby

Crix

Dunn's River

Eclipse

Excelsior

KC Candy

Munchee

Nutrament

Ovaltine

Ribena

Shirley

VitaMalt

Colombina

San Marcos

Pan

Sales are:

Wholesale

Clients:

National companies

Suppliers:

VINEYARDS FOOD PRODUCTS LTD.

Jamaica

Jamaica Biscuit Co., Ltd.

Jamaica

EMPACADORA SAN MARCOS SA DE CV

Mexico

Klabin S/a

Brazil

Operations area:

National

The company imports from

Jamaica, Mexico and Brazil

The subject employs

52 employees

Payments:

Regular

LOCATION

Headquarters :

70 West Wilmot Street

Richmond Hill, ON L4B 1H8

Canada

Comments:

Branches:

The company does not have branches

Main Competitors

Related Companies:

Grace Foods International Limited

Jamaica

DISTRIBUTORS:

Western Canada

ELITE INTERNATIONAL FOODS INC.

3823 – 29 Street NE

Calgary AB T1Y 6B5

CANADA

Phone: 403-291-0660

Fax: 403-291-0661

Toll Free: 866-999-0660

www.elitefoods.ca

DATTANI WHOLESALERS

(A division of DATTAI FOODS LTD)

3651 – 21 Street N.E.

Calgary AB T2E 6T5

CANADA

Phone: 403-250-8980

Fax: 403-250-6946

DOVRE IMPORT & EXPORT LTD.

13931 Bridgeport Road

Richmond BC V6V 1J6

CANADA

Phone: 604-234-4545

Fax: 604-234-4546

Toll Free: 800-370-3850

www.dovreimport.com

JOHN L NORGET & CO. LTD.

150 Bannister Road

Winnipeg MB R2R 0S3

CANADA

Phone: 204-775-4630

Fax: 204-786-2622

www.norget.ca

Quebec

LES ALIMENTS A.D.P.

362 Boul. Cremazie Ouest

Montreal Quebec H2P 1C7

CANADA

Phone: 514-904-1824

UNFI Canada Grocery East

35 rue Du Parc

Scotstown Québec J0B 3B0

CANADA

Phone: 819-657-4225

Toll Free: 1-800-567-7376

Fax: 819-657-4708

Toll Free Fax: 1-866-657-4708

Maritimes

WARD FOODS

180 Chemin Parker

Scoudouc, NB E4P 3R2

CANADA

Phone: 506-532-8988 Toll Free: 1-800-561-7961

Fax: 506-533-3229

wardfoods@wardfoods.com

www.wardfoods.com

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

Listed at the stock exchange:

Capital:

Shareholders:

This is a private company. The company does not disclose information on shareholders. We could not confirm major holders.

Management:

Sarath (Lucky) Lankage, President & Board Member

Allan F Brown, Board Member

Donald Wehby, Board Member

Julian Weerasinghe, Sales

Ilisa Chacon, Marketing

Gary McFarlane, Manufacturing

Marguerite Orane, Director

Pamela Appelt, Director

Ryan Mack, Director

Michael Ranglin, Director

Gregory Solomon, Director

Mary Anne Chambers, Director

Don Wehby, Director

ALAN F. BROWN, Director

FINANCIAL INFORMATION

The company does not make its financial statements public. The following information has been provided by private sources:

USD 2016

Gross Sales

38,605,000

Cash flow

Normal

LEGAL FILINGS

Cases

No records found

Filling History

Date	Document Description
01/04/2017	Amendment section 178 Company name changed
14/03/2016	Annual Return for 2017. Non-distributing corporation with 50 or fewer shareholders
23/09/2014	Annual Return for 2015. Non-distributing corporation with 50 or fewer shareholders
28/08/2012	Amendment section 178 Director limits changed
27/08/2012	Change of registered office from 199 BAY STREET SUITE 2800 COMMERCE COURT WEST TORONTO Ontario M5L 1A9 since 2004-01-01
16/05/2011	Annual Return for 2012. Event Type: Non-distributing corporation with 50 or fewer shareholders
16/05/2011	Annual Return for 2012. Non-distributing corporation with 50 or fewer shareholders
18/09/2008	Annual Return for 2009. Event Type: Non-distributing corporation with 50 or fewer shareholders
18/09/2008	Annual Return for 2009. Non-distributing corporation with 50 or fewer shareholders
19/09/2007	Annual Return for 2007. Event Type: Non-distributing corporation with 50 or fewer shareholders
03/08/2005	Amendment Company name changed
01/01/2004	Change of registered office from 45 MURAL ST. UNITS 2 & 3 RICHMOND HILL Ontario L4B 1J4 since 2003-01-01
01/01/2003	Amalgamation/merger with corporation: GRACE KENNEDY (CANADA) INC. section
01/01/2003	Amalgamation/merger with corporation: GRACE, KENNEDY (ONTARIO) INC. section

OFAC

Sanctions List Search

The company is not listed in the OFAC list.

Maximum Credit Provided

USD 300 000

SUMMARY

Founded in 1922, GRACE FOODS CANADA INC is a food and beverage company located in Canada.

The company has 52 full-time employees and generates an estimated USD 38,605 million in gross sales.

The company imports from Jamaica, Mexico and Brazil, operating within national markets.

This has been an ACTIVE company incorporated in Canada in 2003.

RISK INFORMATION

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

SUGGESTED CREDIT LINE

USD 300 000

STATUS

ACTIVE

INTERVIEW

NAME

POSITION

Operator

COMMENTS

She confirmed legal name, trade name, website, telephone and address, but refused to provide further information without knowing the reason of the call or the client that request for it.

She did not provide her name.

Finally, she explained that all the company´s information is available at its website: www.gracefoods.ca

She transferred the call to a superior but nobody answered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.28
UK Pound	1	INR 89.02
Euro	1	INR 78.93
CAD	1	INR 51.10

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

STATUTORY INFORMATION

HISTORY

PRINCIPAL ACTIVITY

LOCATION

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

FINANCIAL INFORMATION

LEGAL FILINGS

SUMMARY

RISK INFORMATION

INTERVIEW

Unit