Swander Pace Capital (SPC), a private equity firm specializing in partnering with family-held and entrepreneur-owned consumer product companies, announced an investment in Inovata Foods, a leading manufacturer of private-label frozen entrées. Founded by Steve and Lisa Parsons in 1989, Inovata manufactures a wide range of frozen meals across two facilities in Canada and services customers in both the U.S. and Canada.
The Inovata Foods investment highlights Swander Pace Capital’s depth and experience investing in the US and Canadian food manufacturing space. And Inovata represents SPC’s 10th platform investment in Canada, including prior investments Voortman Cookies, Recochem, Kicking Horse Coffee, Lavo, Pineridge Bakery, and Liberté.
Along with Inovata, SPC currently partners with Vancouver-based Fine Choice Foods, Ltd., a leading manufacturer of Asian-inspired foods selling under the SUMM! brand across North America, and St-Méthode Bakery, a leading Quebec-based bakery platform producing healthy value added fresh bread products.
Ernst & Young Orenda Corporate Finance served as financial advisor to Inovata in the deal.
KEY QUOTES:
“We are truly excited to partner with the Parsons family and the Inovata Foods team, known for their unwavering dedication to quality and customer service. As the demand for premium private-label meal solutions continues to grow, we see Inovata as the ideal platform to capitalize on these trends. With extensive experience in private label and food manufacturing throughout North America, we believe we are uniquely positioned to help foster Inovata’s growth and leadership position in the industry.”
- Tyler Matlock, Managing Director at SPC
“Selecting the right partner was crucial for us, and we deliberately chose Swander Pace Capital due to their proven track record and shared values and vision for growth. I am incredibly proud of the Inovata Foods team and all we have accomplished since our inception in 1989. I am confident that partnering with SPC will accelerate our capacity expansion plans, enabling us to provide even more quality products to our valued customers.”
- Steve Parsons, Founder of Inovata Foods
“We strive every day to deliver superior service to our retail partners. Our employees are dedicated to quality, and we continually invest in the robust capabilities of our manufacturing facilities. The partnership with Swander Pace Capital will allow us to accelerate our execution efforts and continue to deliver best-in-class quality.”
- Chad Parsons, CEO of Inovata Foods
