Skyview Capital Picks up Passport Foods
Century City-based private equity firm Skyview Capital has rebranded ethnic foods producer-distributor Passport Global Foods as Passport Foods SVC after acquiring select assets of the company for just under $25 million.
Founded in 1978 as Passport Asia Associates, Passport Foods began as a small business serving restaurants in the Los Angeles area. Today, it owns a number of brands sold to major chain restaurants, grocers and big-box stores, including P.F. Chang’s, Panda Express, Whole Foods and Costco.
The business has been acquired by three different private equity firms in the last decade. Swander Pace Capital, which sold select assets of Passport Global Foods to Skyview in October, purchased the company in 2017 from downtown-based private equity firm Wedbush Capital Partners. Wedbush had acquired Passport in 2012.Oct 9, 2019