Canadian artisan bakery Bäckerhaus Veit has been acquired by private equity firm Swander Pace Capital for an undisclosed sum.
Bäckerhaus Veit produces a range of artisanal European-style breads, rolls, buns and soft pretzel products for North American retailers and food service clients.
This acquisition is the latest investment in the food industry by Swander Pace Capital, following its purchase of Canada-based Fine Choice Foods in September, and the firm has invested in baked goods companies such as Voortman Cookies and Pineridge Bakery in the past.
Bäckerhaus Veit CEO Sabine Veit said: “Swander Pace is the ideal partner to help us achieve our next phase of growth.
“They have vast understanding and deep experience in this space, not to mention a long history of giving companies the advice and backing they need to succeed.
“I am looking forward to working with the Swander Pace team to continue to build strong partnerships, grow awareness of our products and capabilities, and expand our distribution footprint across North America.”
Heather Smith Thorne, managing director at Swander Pace Capital added: “Bäckerhaus Veit has built a tremendous business by staying true to the foundations of traditional artisan bread making.
“The company has built enduring relationships with its customers and suppliers, and it is able to recreate high-quality products derived from old-world recipes, allowing it great success in today’s modern marketplace.
“This achievement is a testament to the leadership of Sabine and her talented team, as well as the technological advantages afforded by a newly built, best-in-class baking facility.”
© FoodBev Media Ltd 2019