Swander Pace and Roynat to Sell Pineridge Bakery for $340M
March 12, 2014
Swander Pace Capital and Roynat Capital are selling Pineridge Bakery, an Ontario-based provider of specialty fresh and frozen private label and branded baked goods, to global food business ARYZTA. The $340 million sale caps a seven-year hold for Pineridge, during which it increased revenue to CA$230 million, added over 100 new jobs and invested nearly $40 million in growth capital to support customer initiatives, expand its product base and drive operating efficiencies. Swander Pace Capital, Roynat Capital and CEO Roger Dickhout formed the company in 2007.