Swander Pace Capital Acquires Majority Stake in Voortman Cookies
SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Swander
Pace Capital, a leading private equity firm specializing in
investments in consumer products companies, has acquired Voortman
Cookies, a premier manufacturer and marketer of cookies and wafers.
Based out of Burlington, Ontario, Voortman Cookies products are sold in
retailers throughout the world.
“For over 60 years, Voortman Cookies has remained one of the most
well-known brands in Canada and has grown its footprint throughout North
America and across the world,” said Andrew Richards, managing director
at Swander Pace Capital. “We see a huge opportunity to help the company
expand even further through increased investment in product innovation,
distribution and marketing.”
“I’m pleased to announce our search for a new majority shareholder who
values our team and what we’ve built has resulted in this exciting
agreement with Swander Pace Capital,” said Harry Voortman, chief
executive officer of Voortman Cookies. “As I begin to transition from
CEO to shareholder, advisor and board member, it is important to me to
find an experienced partner who would carry on the Voortman Cookies
legacy into the future.”
In addition to the acquisition by Swander Pace Capital, Mr. Voortman
will transition his role as CEO to Douglas MacFarlane, who brings
valuable leadership experience growing food and consumer products brands.
“I want to thank Harry for the warm welcome and support that he has
offered me as part of this transition. I am excited to continue his
longstanding tradition of quality products and market leadership,” said
MacFarlane. “It is an exciting time for Voortman Cookies, and I look
forward to working with our incredible team and a seasoned strategic and
financial partner to enhance our innovation and seize the opportunities
in front of us.”
“We couldn’t be more proud to partner with a company like Voortman and
its incredible family legacy of great products and devoted customers,”
added Heather Smith Thorne, director at Swander Pace Capital. “Harry has
built a tremendous business with fantastic prospects, and we are excited
to help the company in its next chapter of growth.”
Stikeman Elliott served as legal advisor in the transaction for Swander
Pace Capital. Deloitte Corporate Finance Canada served as financial
advisor for Voortman Cookies and McCarter Grespan served as legal
advisor for Voortman Cookies.
About Swander Pace Capital
Swander Pace Capital is a leading private equity firm specializing in
investments in growth-oriented, middle-market consumer companies in
North America and the United Kingdom. Since its inception in 1996,
Swander Pace has used its expertise in this industry to pursue a
consistent strategy of acquiring or investing in consumer products
companies with leading market positions in attractive, defensible
niches. With staff in San Francisco, New Jersey, and Ontario (Toronto),
Swander Pace provides portfolio companies with a unique mix of financial
and strategic support to create long-term value. Moreover, Swander Pace
has a long investment history in Canada, having current or previous
ownership in companies such as Liberte Brand Products, Pineridge Bakery,
and Kicking Horse Coffee. Overall, Swander Pace has led successful
private equity investments in consumer companies with total revenues in
excess of $2.0 billion. For more information, visit www.spcap.com.
About Voortman Cookies
Voortman Cookies has been exciting customers in North American markets
and around the world with its delicious, traditionally baked cookies
since 1951, when the company was founded by Dutch immigrant brothers
William and Harry Voortman. The company makes more than 60 unique
varieties of cookies and wafers, including an extensive line of
sugar-free/no sugar added products. Voortman brand cookies are sold in
supermarkets across Canada, the United States, Puerto Rico, and more
than 70 other countries worldwide. For more information, visit www.voortman.com.
Contacts
LANE (for Swander Pace Capital)
Jeff Segvich, 503-546-7870
jeff@lanepr.com
