Swander Pace Capital (SPC), a prominent private equity firm specializing in consumer product companies, has announced a significant investment in Inovata Foods Corp. Founded in 1989 by Steve and Lisa Parsons, Inovata is renowned for its production of private label frozen entrées, operating from two facilities in Canada and serving markets across the U.S. and Canada.
“We are thrilled to partner with the Parsons family and the exceptional team at Inovata Foods, known for their steadfast commitment to quality and customer satisfaction,” said Tyler Matlock, Managing Director at SPC. “With the rising demand for premium private label meal solutions, we view Inovata as an ideal platform to capitalize on these market trends. Leveraging our extensive experience in North American food manufacturing and private label expertise, we are poised to support Inovata’s growth and reinforce its leadership in the industry.”
Steve Parsons, Founder of Inovata Foods, emphasized the strategic fit with SPC: “Choosing the right partner was paramount for us, and Swander Pace Capital stood out for their track record and shared strategic vision for growth. Partnering with SPC will accelerate our plans for capacity expansion, enabling us to enhance our product offerings for our loyal customers.”
Chad Parsons, CEO of Inovata Foods, highlighted their commitment to operational excellence: “At Inovata, we are dedicated to delivering outstanding service to our retail partners and investing in the capabilities of our manufacturing facilities. This partnership with Swander Pace Capital will expedite our strategic initiatives and uphold our commitment to delivering top-tier quality.”
The investment in Inovata Foods underscores Swander Pace Capital’s expertise in the U.S. and Canadian food manufacturing sectors. Inovata joins SPC’s portfolio of Canadian investments, including Voortman Cookies, Recochem, Kicking Horse Coffee, Lavo, Pineridge Bakery, and Liberté. Additionally, SPC collaborates with Fine Choice Foods, Ltd., a Vancouver-based manufacturer of Asian-inspired foods, and St-Méthode Bakery, a prominent Quebec-based bakery specializing in healthy, value-added bread products.
Ernst & Young Orenda Corporate Finance Inc. served as financial advisor to Inovata in this transaction, highlighting the strategic importance and robust partnership between SPC and Inovata Foods.
