Swander Pace Capital, a San Francisco-based private equity firm, acquired Fine Choice Foods, a Canada-based developer, manufacturer and distributor of fresh and frozen Asian-flavored appetizers sold under the Sum-m! brand in retail and foodservice channels.
“As a leader in one of the fastest growing segments of an already dynamic industry, Fine Choice is a very attractive investment for us,” says 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.”
Michael Axelrod, chief executive officer of Passport Food Group, which Swander Pace Capital acquired in April 2017, will also serve as chief executive officer of Fine Choice Foods.
“The team at Swander Pace possesses a strong grasp of changing consumer tastes and preferences,” says Axelrod. “They have a proven track record in providing consumer companies the guidance and resources they need to perform at the highest levels. We look forward to working alongside the current Fine Choice team to build on the company’s impressive legacy and grow the business through organic growth and acquisitions.”
“The decision to add Fine Choice to our portfolio was a highly strategic one,” adds 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.”