Swander Pace Acquires Café Valley

Swander Pace Capital has acquired Café Valley, a maker of croissants, cakes, muffins, and other sweet baked goods, from a group of private individual shareholders.

Café Valley’s products are sold to the in-store bakery, club store, mass merchandise, foodservice, and convenience store segments. According to the company, they are one of the largest independent wholesale bakeries in the United States.

Café Valley, founded in 1986, operates two state-of-the-art production facilities in Phoenix, AZ (headquarters) and Marion, IN (www.cafevalley.com).

Current CEO and industry veteran Brian Owens will continue to serve as Café Valley’s chief executive officer under Swander Pace ownership. “Café Valley is already a leader in the category thanks to its long history, high-quality diversified product offering, unmatched customer service and best-in-class production facilities,” said Tyler Matlock, a director at Swander Pace. “Brian’s extensive experience, keen vision and deep knowledge of the bakery space make him an ideal partner to lead the company into its next phase of growth and expansion.”

The buy of Café Valley’s is Swander Pace’s most recent investment in the baked goods industry and follows the firm’s buys of Bäckerhaus Veit, a Canada-based maker of frozen and par-baked bread products (November 2018); Voortman Cookies, a Canada-based maker and marketer of cookies and wafers (October 2015); Pineridge Bakery, a Canada-based maker of frozen and fresh specialty baked goods (sold in 2014);  Ideal Snacks, a Liberty, NY-based producer of puffed and baked snacks (sold in 2015); and Nonni’s, a Chicago-based maker of cookies and other baked snacks (sold in 2012).

“I am excited to work with the talented team at Swander Pace to increase our market share, product offering and distribution footprint,” said Mr. Owens. “They have deep understanding and experience in the competitive bakery niche, as well as a strong track record of giving companies the advice and backing they need to succeed.”

Swander Pace invests in middle-market consumer products companies that have revenues of up to $500 million. Sectors of interest include food and beverage, body and wellness, and home and family. The firm was founded in 1996 and has offices in San Francisco; Bedminster, NJ; and near Toronto in Burlington, ON.

Cody Peak Advisors, an El Segundo, CA-based investment bank that specializes in the middle market food and beverage sector, was the financial advisor to Café Valley on this transaction.

© 2019 Private Equity Professional | September 10, 2019

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