Swander Pace Capital Announces Sale of Fine Choice Foods (SUMM! Brand) to Power Sustainable Lios

RICHMOND, British Columbia--(BUSINESS WIRE)--Swander Pace Capital (“SPC”), a private equity firm focused on investing in consumer staples across the food & beverage and health & wellness categories, today announced the sale of Fine Choice Foods (“Fine Choice” or “the Company”), a developer, manufacturer and distributor of fresh and frozen Asian-inspired appetizers and meal solutions under the SUMM! brand, to Power Sustainable Lios (“Lios”), the food-focused private equity platform of Power Sustainable. The transaction is the second recent exit for SPC, following the sale of its investment in Purely Elizabeth to Ferrero in September.

Since acquiring Fine Choice, SPC has partnered with the Company’s management team to accelerate growth through strategic investments in sales, product innovation, and operational infrastructure. Under SPC's ownership, Fine Choice expanded its reach across Canada and the United States, enhanced its manufacturing capabilities and commercial infrastructure, and strengthened its flagship SUMM! brand. These initiatives helped position the business to capitalize on growing consumer demand for convenient, high-quality Asian-inspired foods and drive a threefold increase in the Company’s EBITDA during SPC’s ownership.

“It has been a true pleasure to work with the Fine Choice team. Their hard work and dedication have delivered an outstanding result,” commented Tyler Matlock, Managing Director at Swander Pace Capital. “This transaction exemplifies SPC’s ability to partner with management teams to accelerate growth and build enduring value. We are grateful for the partnership and wish the Fine Choice team continued success in its next chapter.”

“I am incredibly proud of our team and its ability to bring innovative, high-quality Asian-inspired foods to customers across North America,” said Jason Longden, CEO of Fine Choice Foods. “Our partnership with SPC has been an extremely rewarding journey. Their strategic perspective, extensive network, and deep category expertise were instrumental in supporting our growth and success, and we are grateful for their partnership.”

“We value partnering with families who have built trusted and authentic businesses, and the Lui family built something special that we were proud to help professionalize and scale,” said Alex Litt, Managing Director at Swander Pace Capital. “With growing consumer interest in global flavors and demand for convenient, high-quality frozen and refrigerated foods, the brand’s offering positions it well for its next chapter of growth with Lios.”

The Fine Choice Foods investment reflects SPC’s depth and experience investing in the food and beverage sector. Other current and former investments in the category include Purely Elizabeth, Bragg Live Food Products, Café Valley Bakery, Patriot Pickle, Mighty Spark, Kicking Horse Coffee, and Applegate.

BMO Capital Markets Corp. served as exclusive financial advisor, and Stikeman Elliott LLP acted as legal counsel to Fine Choice Foods and Swander Pace Capital on the transaction.

About Swander Pace Capital
Swander Pace Capital (“SPC”) is a private equity firm focused on investing in family- and founder-owned consumer staples businesses. SPC specializes in the food & beverage and health & wellness categories across the branded and non-branded value chain. SPC actively adds value through its SPC Playbook, its experienced senior team, and extensive network of consumer executives, partnering with management teams to help build companies to their full potential. With offices in California and New Jersey, SPC has invested in 64 platform companies and raised cumulative equity commitments of approximately $2.2 billion since 1996. For more information, visit www.spcap.com.

About Fine Choice Foods
Founded in 1986 by the Lui family in Vancouver, BC, Fine Choice Foods is a North American producer of refrigerated high-quality, Asian-inspired cuisine. Specializing in spring rolls, gyoza dumplings, bao buns and the original apple pie roll under the number one refrigerated Asian brand, SUMM! Fine Choice Foods serves both Canadian and U.S. markets from its two cutting-edge facilities. With more than 300 employees and over 100,000 square feet of production space, the company continues to grow its presence while remaining committed to delivering authentic and delicious food products. For more information, visit www.SUMMFOODS.com.

About Power Sustainable Lios
Power Sustainable Lios is a private equity platform focused on investing in established and innovative companies across the food and agriculture value chain. Lios partners with management teams and founders to drive long-term value creation, operational excellence, and responsible growth. Power Sustainable Lios is a subsidiary of Power Sustainable.