Swander Pace Capital has acquired Maple Donuts, a manufacturer of frozen bakery products. Co-investing in the acquisition were Partners Capital and Constitution Capital Partners.
Maple Donuts specializes in private label donuts for retail and foodservice distribution nationwide. The company’s product line includes ready-to-sell and ready-to-finish donuts that are sold through the in-store bakery, convenience store, and foodservice channels.
Maple Donuts was founded in 1946 by Charles Burnside and today is led by his sons and co-presidents Damian Burnside and Nathaniel Burnside, with grandson Luke Burnside as the executive vice president of sales. The company is headquartered approximately 100 miles west of Philadelphia in York, Pennsylvania.
“The Burnside family recognized the clear benefits that Swander Pace Capital’s resources and expertise can provide to help Maple Donuts continue its growth trajectory,” said Luke Burnside. “Their deep understanding of the bakery industry, combined with their track record of working with family-owned businesses, makes them the ideal partner for our next chapter. We are excited to work with the Swander Pace team to further expand our product offerings, enhance our production capabilities, and extend our market capabilities while maintaining the high standards of quality that have defined Maple Donuts since its founding.”
“We have dedicated our lives to building Maple Donuts into a trusted partner for our customers and a great place to work for our employees. As we transition the business, we are confident that Maple Donuts is in excellent hands for the next chapter with Swander Pace Capital. We look forward to seeing the company continue to thrive under their stewardship,” said Damian and Nathaniel Burnside in a released statement.
“We are thrilled to partner with the Burnside family and the entire Maple Donuts team to support the company’s continued growth,” said Tyler Matlock, a managing director at Swander Pace. “We will continue to look for interesting investment opportunities within the bakery category to further establish Maple Donuts as a value-added partner to its customers. The company’s commitment to quality, innovation, and customer service aligns perfectly with our investment philosophy.”
The acquisition of Maple Donuts is Swander Pace’s eighth platform and fifteenth investment in the bakery sector. Earlier transactions include Boulangerie St. Méthode, a Canada-based bread maker (2023); Café Valley, an Indiana-based maker of croissants and sweet baked goods (2019); Bäckerhaus Veit, a Canada-based bread maker (2018 to 2022); Voortman Cookies, a Canada-based maker of cookies and wafers (2015 to 2019); Pineridge Bakery, a Canada-based maker of English muffins, cakes, and danishes (2007 to 2014); Ideal Snacks, a New York-based maker of puffed and baked snacks (2012 to 2015); and Nonni’s Biscotti, an Illinois-based biscotti and bagel chip maker (1999 to 2004).
Swander Pace specializes in investing in middle-market consumer products companies with revenues of up to $500 million. The firm’s sectors of interest include food and beverage, body and wellness, and home and family. Since its founding in 1996, Swander Pace has invested in over 65 companies and raised more than $2.2 billion in capital. The firm is headquartered in San Francisco, with additional offices near New York City in Bedminster, New Jersey.
© 2025 Private Equity Professional | June 10, 2025
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