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Power Corp. Subsidiary Buys Fine Choice Foods From U.S. Private Equity Firm
The sale follows a threefold EBITDA increase and expanded distribution across Canada and the United States under Swander Pace Capital’s ownership.
- On Thursday, Montreal-based Power Sustainable Lios announced it acquired Fine Choice Foods Ltd. from San Francisco-based Swander Pace Capital, returning the Asian-inspired appetizer manufacturer to Canadian ownership.
- Swander Pace Capital acquired the family-run business in 2018 and led an eight-year professionalization program that expanded reach and drove a threefold increase in EBITDA.
- Power Sustainable Lios partner Craig Hanna noted refrigerated options are "perceived as fresher, healthier, more convenient," while Fine Choice maintains over 100,000 square feet of production space serving national chains.
- Farm Credit Canada and Toronto-based Bonnefield Financial Inc. joined as minority investors, while managing partner Jonathan Belair called the deal a "moment of pride" for returning ownership to Canada.
- This acquisition follows Montreal-based Power Sustainable's September plan to channel at least $10-billion into Canadian companies, targeting the country's $35-billion food and beverage manufacturing industry.
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17 Articles
17 Articles
The Toronto Star+10 Reposted by 10 other sources
Power Corp. subsidiary buys Fine Choice Foods from U.S. private equity firm
RICHMOND - Power Sustainable Lios Inc. says it has bought Fine Choice Foods Ltd., a maker of refrigerated Asian appetizers and owner of the Summ! brand.
·Toronto, Canada
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Financial Post+2 Reposted by 2 other sources
Swander Pace Capital Announces Sale of Fine Choice Foods (SUMM! Brand) to Power Sustainable Lios
RICHMOND, British Columbia — Swander Pace Capital (“SPC”), a private equity firm focused on investing in consumer staples across the food & beverage and health & wellness categories, today announced the sale of Fine Choice Foods (“Fine Choice” or “the Company”), a developer, manufacturer and distributor of fresh and frozen Asian-inspired appetizers and meal solutions […]
·Toronto, Canada
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Farm Credit Canada and Bonnefield Financial Inc. co-invest with Lios to support North American expansionTORONTO, the 22nd
·Montreal, Canada
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Total News Sources17
Leaning Left6Leaning Right1Center6Last UpdatedBias Distribution46% Left, 46% Center
Bias Distribution
- 46% of the sources lean Left, 46% of the sources are Center
46% Center
L 46%
C 46%
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