RICHMOND, BC. – Power Sustainable Lios, the agriculture and food private equity investment arm of sustainability asset management company Power Sustainable, has acquired Fine Choice Foods from Swander Pace Capital (SPC). Terms of the transaction were not disclosed.
Founded in 1986, Fine Choice Foods produces a portfolio of Asian-inspired fresh and frozen foods, such as spring rolls, gyoza dumplings, wontons and apple pie rolls, in Summ! brand. The company was originally acquired by SPC in 2018 as part of the private equity firm’s strategy to invest in the international cuisine segment.
“I am incredibly proud of our team and our ability to bring innovative, high-quality Asian-inspired food to customers across North America,” said Jason Longden, CEO of Fine Choice Foods. “Our partnership with SPC has been a wonderful journey. Their strategic perspective, extensive network and deep category expertise are essential to support our growth and success, and we are grateful for the partnership.”
Fine Choice Foods joins the Power Sustainable Lios portfolio that includes organic fruit spread producer Crofter’s Organic, vertical produce grower GoodLeaf Farms, value-added food distributor Private Brand Consortium and Food Cycle Science, a food waste solutions company.
The transaction marks SPC’s second food and beverage divestment, following the sale of granola, oatmeal and cereal maker Purely Elizabeth to the Ferrero Group in August.