Key Takeaways
- • Swander Pace Capital (SPC) has sold Fine Choice Foods, the Richmond, BC-based maker of the SUMM! brand of frozen and refrigerated Asian-inspired appetizers and dessert rolls, to Power Sustainable Lios, the food-focused private equity platform of Power Sustainable.
- • Terms of the transaction were not disclosed.
- • Under SPC's ownership, Fine Choice expanded across Canada and the United States and drove a threefold increase in EBITDA, according to the announcement.
- • Fine Choice was founded in 1986 by the Lui family in Vancouver, operates two production plants, and employs more than 300 people.
- • The deal marks an exit for SPC and a new platform owner for a consumer staples business focused on convenient Asian-inspired foods such as spring rolls, gyoza dumplings, and bao buns.
Summary
Swander Pace Capital (SPC), a private equity firm focused on consumer staples across food and beverage and health and wellness, has announced the sale of Fine Choice Foods to Power Sustainable Lios, the food-focused private equity platform of Power Sustainable. Terms of the transaction were not disclosed. Several outlets, including Power Corp.-related coverage, described the buyer as a Power Corp. subsidiary acquiring the company from SPC.
Fine Choice Foods, headquartered in Richmond, British Columbia, develops, manufactures, and distributes frozen and refrigerated Asian-inspired appetizers and dessert rolls under the SUMM! brand. The company was founded in 1986 by the Lui family in Vancouver, operates two production plants, and employs more than 300 people.
During SPC's ownership, the firm worked with the company's management team to accelerate growth through investments in sales, product innovation, and operational infrastructure. Fine Choice expanded its reach across Canada and the United States, upgraded manufacturing and commercial capabilities, and strengthened the SUMM! brand. SPC said these initiatives helped the business capitalize on rising consumer demand for convenient, high-quality Asian-inspired foods and produced a threefold increase in EBITDA over the holding period.
Tyler Matlock, managing director at Swander Pace Capital, said: "It has been a true pleasure to work with the Fine Choice team. Their hard work and dedication have delivered an outstanding result." He added that the transaction "exemplifies our ability to partner with management teams to accelerate growth and build enduring value."
Fine Choice Foods, headquartered in Richmond, British Columbia, develops, manufactures, and distributes frozen and refrigerated Asian-inspired appetizers and dessert rolls under the SUMM! brand. The company was founded in 1986 by the Lui family in Vancouver, operates two production plants, and employs more than 300 people.
During SPC's ownership, the firm worked with the company's management team to accelerate growth through investments in sales, product innovation, and operational infrastructure. Fine Choice expanded its reach across Canada and the United States, upgraded manufacturing and commercial capabilities, and strengthened the SUMM! brand. SPC said these initiatives helped the business capitalize on rising consumer demand for convenient, high-quality Asian-inspired foods and produced a threefold increase in EBITDA over the holding period.
Tyler Matlock, managing director at Swander Pace Capital, said: "It has been a true pleasure to work with the Fine Choice team. Their hard work and dedication have delivered an outstanding result." He added that the transaction "exemplifies our ability to partner with management teams to accelerate growth and build enduring value."
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.