TILLSONBURG, Ontario & EDMONTON, Alberta--(BUSINESS WIRE)--Swander Pace Capital (“SPC”), a leading private equity firm specializing in partnering with family-held and entrepreneur-owned consumer product companies, today announced an investment in Inovata Foods Corp. (“Inovata” or the “Company”), a leading manufacturer of private label frozen entrées. Founded by Steve and Lisa Parsons in 1989, Inovata manufactures a diverse range of frozen meals across two facilities in Canada and services customers in both the U.S. and Canada.
"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,” said 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," said Steve Parsons, Founder of Inovata Foods. "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."
“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,” said Chad Parsons, CEO of Inovata Foods.
The Inovata Foods investment exemplifies Swander Pace Capital’s depth and experience investing in the US and Canadian food manufacturing space. Inovata represents SPC’s 10th platform investment in Canada, including prior investments Voortman Cookies, Recochem, Kicking Horse Coffee, Lavo, Pineridge Bakery, and Liberté. In addition to 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-add fresh bread products.
Ernst & Young Orenda Corporate Finance Inc. served as financial advisor to Inovata in the transaction.
About Swander Pace Capital
Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and adds value through access to its proven SPC Playbook, senior team, and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food + Beverage, Body + Wellness, and Home + Family. Representative investments include Bragg Live Food Products, Swanson Health Products, Café Valley Bakery, Patriot Pickle, Mommy’s Bliss, Merrick Pet Care, Kicking Horse Coffee, Purely Elizabeth, Captek Softgel International, and Fine Choice Foods. With offices in California, New Jersey, and Ontario (Canada), SPC has invested in more than 60 companies and raised cumulative equity commitments of approximately $2.2 billion since 1996. For more information, visit www.spcap.com.
About Inovata Foods
Inovata Foods is a private label manufacturer of frozen entrées specializing in a wide variety of global cuisine ranging from Italian to Indian. Products are sold in Canada and the U.S. for retail, club store and food service. The Company was founded in 1989 by Steve and Lisa Parsons as The Pasta Mill Ltd, producing fresh pasta before transitioning to making frozen entrees in 2007. The company’s production facilities and strong team provide customers with superior service, innovative R&D, professionalism, and competitive pricing models. For more information, visit www.inovatafoods.com.
