Exciting News: The acquisition of Fine Choice Foods is complete!
Swander Pace Capital, a leading private equity firm specializing in investments in consumer product companies, today announced that it has acquired Fine Choice Foods, a leading developer, manufacturer, and distributor of fresh and frozen Asian flavored appetizers to retail and foodservice channels in Canada and the U.S.
Since its founding in 1986, Fine Choice has grown from a small, family-run store on Vancouver’s Cambie Street to become one of the largest and most recognized providers of on-trend international foods. The company’s products, which include items sold under its Sum-m! brand, enjoy a wide distribution network among prominent North American retailers, including Costco, Loblaws, and Sobeys, as well as select foodservice customers. In addition, the company has a leading position in the refrigerated appetizers category, which is one of the fastest growing segments in the category.
“As a leader in one of the fastest growing segments of an already dynamic industry, Fine Choice is a very attractive investment for us,” said Heather Smith Thorne, managing director at Swander Pace Capital. “What’s more, the company’s ability to bring innovative, Asian-inspired flavors to a diverse marketplace–using clean, high-quality, natural ingredients–has earned Fine Choice a strong distribution footprint and high customer loyalty.”
The acquisition represents Swander Pace Capital’s second recent investment in the space. In 2017, the firm acquired Passport Food Group, a California-based developer, marketer and distributor of globally-inspired appetizer, noodle and wrap products to the foodservice and retail channels. Passport Food Group is led by Michael Axelrod, who will also serve as CEO of Fine Choice Foods.
“The team at Swander Pace possesses a strong grasp of changing consumer tastes and preferences,” said Axelrod. “They have a proven track record in providing consumer companies the guidance and resources they need to perform at the highest levels. We look forward to working alongside the current Fine Choice team to build on the Company’s impressive legacy and grow the business through organic growth and acquisitions.”
“The decision to add Fine Choice to our portfolio was a highly strategic one,” added Mark Poff, managing director at Swander Pace Capital. “As consumer tastes become wider and more varied, there is tremendous opportunity to build a clear leader in high-quality, on-trend, international cuisine—especially in the prepared and refrigerated category. Fine Choice Foods is an exceptional complement to our existing investments in the space, which will continue to remain a major focal point for us as it expands.”
What Does this Mean for Our Customers?
• Expanded ability to bring innovative, on-trend global flavors and feature items.
• Seafood appetizer creations are now in our suite of offerings.
• Unique dessert offerings are now available.
• Increased distribution capability and product depth for food service and retail.
• Enhances our commitment to providing more natural, premium ingredient and convenient food solutions your customers are looking for.
• The partnership of Passport and Fine Choice Foods further enhances our nimble process and creative ability.
• Demonstrates leadership’s commitment to delivering solutions to meet your customers’ evolving tastes and preferences.
Please reach out to our sales team to learn more!Aug 25, 2018