Swander Pace Capital has acquired Backerhaus Veit Ltd., a producer of artisan, European-style breads, rolls, buns, and soft pretzel products for top-tier retail and foodservice customers across North America.
Founded in 1987, Backerhaus Veit was founded by CEO Sabine Veit, who drew more than 90 years of family heritage in the baking industry, dating back to her family's roots in the Stuttgart region of Germany. After starting with just a few retailers in the Toronto area, the company has grown to serve major retailers and foodservice customers in the U.S. and Canada. Sabine Veit will continue to be involved with the company, which will look to expand its distribution footprint across North America.
The acquisition of Backerhaus Veit marks Swander Pace's most recent investment in the baked goods industry, having completed previous transactions with Ontario-based Voortman Cookies and Pineridge Bakery.
Related: Foodservice Adapts to Changing Dining Trends; 'Ghost Kitchens' Are Popping Up in Canada.
from Industry Operations https://ift.tt/2OKNJwA
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