Swander Pace Capital (SPC), a private equity firm specializing in partnering with family-owned and entrepreneur-driven consumer product companies, has invested in Inovata Foods Corp., an Edmonton, Alberta, Canada-headquartered manufacturer of private label frozen entrées including from Italian, Asian, Mexican and Indian cuisine, as well as seafood, chicken and vegetarian dishes.
Founded by Steve and Lisa Parsons in 1989, the company manufactures its wide range from two SQF-cetified facilities in Canada. The products are sold in Canada and the USA through retail, club store and foodservice channels.
“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 of San Francisco, California-headquartered 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. “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.”
“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, chief executive officer of Inovata Foods.
The Inovata Foods investment exemplifies Swander Pace Capital’s depth and experience investing in the North American food manufacturing space. Inovata represents SPC’s 10th platform investment in Canada. In addition to Inovata, the private equity company currently partners with Vancouver-based Fine Choice Foods, Ltd., a make of Asian-inspired foods, selling under the SUMM! brand, and St-Méthode Bakery, a Quebec-based baked goods enterprise that produces value-added bread products.
