SAN FRANCISCO – Private equity firm Swander Pace Capital has acquired Fine Choice Foods, a developer, manufacturer and distributor of fresh and frozen Asian-inspired appetizers to retail and food service channels in Canada and the United States. Financial terms of the transaction were not disclosed.
Founded in 1986, Fine Choice manufactures spring rolls, gyoza, wontons and more under the Sum-m! brand. Its products are distributed in Costco, Loblaws and Sobeys stores as well as to food service customers. Fine Choice operates a manufacturing facility in Richmond, British Columbia, where it employs more than 150.
“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 of Fine Choice marks Swander Pace Capital’s second recent investment in the international cuisine segment. In April 2017, the company acquired Passport Food Group, a California-based developer, marketer and distributor of globally-inspired appetizer, noodles and wrap products.
“The decision to add Fine Choice to our portfolio was a highly strategic one,” said 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.”