SPC acquires fresh and frozen appetiser producer Fine Choice Foods

US-based private equity firm Swander Pace Capital (SPC) has acquired Canadian frozen appetiser producer Fine Choice Foods.

The latest deal marks SPC’s latest addition to its globally-flavoured foods portfolio.

Established in 1986, Fine Choice Foods develops, manufactures and distributes fresh and frozen appetisers to retail and foodservice channels in Canada and the US.

Swander Pace Capital managing director Heather Smith Thorne said: “As a leader in one of the fastest growing segments of an already dynamic industry, Fine Choice is a very attractive investment for us.

“What’s more, the company’s ability to bring innovative, Asian-inspired flavours to a diverse marketplace using clean, high-quality, natural ingredients has earned Fine Choice a strong distribution footprint and high customer loyalty.”

Fine Choice Foods’ products are sold under the Sum-m! brand, and are available across all major retailers in North America, including Costco, Loblaws and Sobeys, as well as select foodservice customers.

In addition, the firm also has a position in the refrigerated appetisers category.

The acquisition is SPC’s second investment in this sector after the firm acquired US-based appetiser, noodle and wrap product producer Passport Food Group.

Passport Food Group is currently led by Michael Axelrod, who will also serve as Fine Choice Foods’ CEO.

Axelrod said: “The team at Swander Pace possesses a strong grasp of changing consumer tastes and preferences. They have a proven track record in providing consumer companies with the guidance and resources they need to perform at the highest levels.”