MISSISSAUGA, ONT. — Private equity firm Swander Pace Capital has added to its growing portfolio of baked foods businesses with the acquisition of Bäckerhaus Veit. Headquartered in Mississauga, Bäckerhaus Veit bakes artisan, European-style bread, rolls, buns and soft pretzel products for retail and food service customers across North America.
Financial terms of the transaction were not disclosed.
Bäckerhaus Veit was founded in 1987 by Sabine Veit, chief executive officer. Ms. Veit’s family roots date back to the Stuttgart region in Germany.
“Bäckerhaus Veit has built a tremendous business by staying true to the foundations of traditional artisan bread making,” said Heather Smith Thorne, managing director at Swander Pace Capital. “The company has built enduring relationships with its customers and suppliers, and it is able to recreate high-quality products derived from old-world recipes, allowing it great success in today’s modern marketplace. This achievement is a testament to the leadership of Sabine and her talented team, as well as the technological advantages afforded by a newly built, best-in-class baking facility.”
Ms. Veit said Swander Pace stands as “the ideal partner” for Bäckerhaus Veit as it enters its next phase of growth.
“They have vast understanding and deep experience in this space, not to mention a long history of giving companies the advice and backing they need to succeed,” she said. “I am looking forward to working with the Swander Pace team to continue to build strong partnerships, grow awareness of our products and capabilities, and expand our distribution footprint across North America.”
The acquisition of Bäckerhaus Veit continues Swander Pace’s recent trend of acquiring companies in the baked foods industry. The private equity firm in recent years has acquired Voortman Cookies and Pineridge Bakery. Swander Pace sold Pineridge to Aryzta AG in 2014.