Swander Pace to sell Pineridge Bakery to Swiss food group for $340 mln
U.S. private equity firm Swander Pace Capital has agreed to sell its portfolio company Pineridge Bakery Inc to Swiss food group Aryzta AG. The deal, which is valued at US$340 million, is expected to close in the second quarter of 2014. The Ancaster, Ontario-based Pineridge, a specialty bakery, manufacturer and marketer of frozen and fresh specialty baked goods, was bought by Swander Pace in 2007. The company is also a portfolio investment of Roynat Equity Partners. Swander Pace said that under its ownership Pineridge has built efficient, flexible manufacturing able to serve a broad customer base, and has grown company revenues to $230 million.
10 March 2014•4 mins read
